Kate Lundy (ACT, Australian Labor Party, Minister Assisting for Industry and Innovation) Share this | Hansard source

Thank you for the second supplementary question, Senator McEwen. The simplification of anti-discrimination laws is very sensitive to the circumstance of small business and reflects other initiatives implemented by the government to support the small businesses of Australia. Small businesses, as I am sure everybody is aware, are unable to write off new assets costing less than $6,500 and the first $5,000 on the company car or ute. Incorporated businesses are now able to carry back losses so they can get a refund of up to $300,000 against tax paid in the previous year.

The threats to small business confidence come in no small part from the opposition, which is doing everything it can to talk down business confidence in the face of the economic indicators. Just recently the shadow finance minister confirmed that the Liberal opposition would scrap the instant asset write-off and the loss carry-back for small business. (Time expired)