George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Hansard source

What is happening on 1 July in relation to tax and revenue is that we will be giving small and medium-sized businesses a tax cut so that they can employ more Australians and pay their employees better wages. That is what we are doing. And, as I said in answer to your primary question, that will benefit 3.2 million Australian businesses who employ 6.5 million Australians. That is why we actually made the deliberate decision to front-end load our Enterprise Tax Plan towards small business, so that small businesses—who, as you know, are the great employers of the Australian economy—will be the earliest beneficiaries of the Enterprise Tax Plan. And I can tell you, Senator Polley, since you asked about revenue, that also on 1 July we will see the commencement of the diverted profits tax. (Time expired)