David Pocock (ACT, Independent) Share this | Hansard source

I seek leave to move a motion relating to the consideration of a bill, as circulated.

Leave granted.

That doesn't happen often. I move:

That:

(a) the Senate notes that:

(i) the 2025-26 Budget does not contain any substantial support for small business, and

(ii) the Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024 presents an opportunity to legislate a $30,000 instant asset write off to give small businesses the certainty they deserve;

(b) the order of the Senate agreed to earlier today relating to the hours of meeting and routine of business be further varied, to insert at the end of the list of bills in paragraph (aa)(ii), the Treasury Laws Amendment (Tax

Incentives and Integrity) Bill 2024; and

(c) a message be sent to the House of Representatives requesting that the House immediately consider the Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024.

Unfortunately, we've seen this government repeatedly ignore small business when it comes to consultation on legislation, when it comes to digitisation to unlock productivity, when it comes to many of Bruce Billson's sensible recommendations for small business in this country. Here we are on the last day of the parliament, and the government is prioritising all sorts of bills. One they aren't prioritising is the instant asset write-off for this year, which hasn't even passed the House yet. Yet earlier, when he was asked about it, we saw the Treasurer blame the Senate. Blaming the Senate for a bill that hasn't passed the House yet seems like a very strange excuse from the government. I urge the major parties: rather than trying to score political points, let's pass these measures for Australia's 2½ million small businesses. They need the certainty, and this parliament has not adequately looked after small businesses in this parliament.

We've heard, rightly, lots about cost-of-living pressures, but the thing we don't talk about is that small-business owners face a double whammy when it comes to cost of living. In their business they are dealing with rising costs and, in many instances, trying to work out ways to not pass them on to customers, and then at home they're facing the same cost-of-living pressures that all Australians are. This instant asset write-off is something that needs to be done today. It needs to be done today to allow small business to have certainty, and I urge the coalition to support it. We may see some squirming, some pushing for a higher amount and to make it permanent. I agree with both of those things. Last time this bill went through, I actually moved amendments to it, and we saw the coalition abstain. I'm not too sure why. But I urge the parliament to pass it. It's in the budget. It's something that the government has committed to. Let's get this $20,000 for this year done, and the next parliament will need to do the work of making it permanent, providing certainty and raising it to at least $30,000.

I'll be moving an amendment to the TLAB—the more cost-of-living relief bill—to make sure that the instant asset write-off is legislated for this financial year. I urge all senators to think about the small businesses in their states and territories and support the amendment.