Dean Smith (WA, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Small and Family Businesses, Skills and Vocational Education, Senator Cash. I refer the minister to recent answers about the Liberal-National government delivering for small and family businesses. Can the minister provide me any feedback she has received from businesses in our home state of Western Australia?

Michaelia Cash (WA, Liberal Party, Minister for Small and Family Business) Share this | Link to this | Hansard source

I thank Senator Smith for the question. I think all of us on this side of the chamber are very pleased that today we were able to deliver on fast-tracking our tax cuts for small and medium businesses throughout Australia. The good news, as Senator Cormann has pointed out, is that, because of the strong economy that those of us on this side of the chamber, the Liberal-National side of the chamber, have put in place, we have been able to deliver those tax cuts five years earlier than planned. This means that almost three million small and medium businesses across Australia will have their tax rate reduced to 25 per cent by 2021-22. This is a great win for these Australian businesses and the nearly seven million Australians they employ. On the ground in Western Australia approximately 350,000 businesses are now going to benefit because of the work of our government.

Like Senator Smith I have had the privilege of visiting a number of these businesses. I was recently in Albany with our good friend and colleague Mr Rick Wilson. We had the opportunity to visit Southern Haulage, a great example of a small business, which began 50 years ago and has now grown to having 50 trucks and employing over 100 people. While we were talking to the owners of this fantastic family business, they were telling us about how the coalition's tax cuts would mean they can keep more of the money they generate in their back pocket but also can re-invest it back into their business so that they can continue to grow their business. They're currently at 50 trucks; they'd like to go further. They currently employ 100 people but they'd like to employ more.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Smith, a supplementary question.

Dean Smith (WA, Liberal Party) Share this | Link to this | Hansard source

Can the minister advise the Senate of specific measures that have benefited small and family businesses in Western Australia?

Michaelia Cash (WA, Liberal Party, Minister for Small and Family Business) Share this | Link to this | Hansard source

As Senator Smith knows, we're delivering on GST reform to the state of Western Australia. As we've noted, we've also delivered our tax cuts for small and medium businesses five years early. But, as I travel around Western Australia, I have the opportunity to visit businesses that are small craft brewers and distillers. They, of course, will benefit from the government's budget announcement to increase the alcoholic excise refund scheme cap to $100,000 per financial year from 1 July 2019. This additional tax relief to these businesses, on top of the tax cuts that they will now receive, fast-tracked through the Senate, will allow these businesses to compete on fairer terms with large beverage companies. Two of the businesses I visited in Western Australia, Wilson's brewery in Albany and Old Young's Distillery in the Swan Valley, have told me that they will benefit from measures that our government is putting in place. (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Smith, a final supplementary question.

Dean Smith (WA, Liberal Party) Share this | Link to this | Hansard source

Is the minister aware of any risks to the government's strong commitment to small and family businesses?

Michaelia Cash (WA, Liberal Party, Minister for Small and Family Business) Share this | Link to this | Hansard source

It is well known that, despite the vote on the small business tax cuts by those on the other side, they are fundamentally opposed to small and family businesses in this country growing. They actually believe that businesses should not be given a tax cut, and that is why in June this year the Labor opposition leader, Mr Shorten, announced that he would reverse the tax cuts that we were providing and business tax cuts would go back up to 27.5 per cent. That is what they believe. They believe in taking more money out of the pockets of business, while those of us on this side of the chamber believe that businesses—in particular, small and family businesses—should be able to keep as much of the money that they generate as possible, because all of the feedback that I receive is that they're able to reinvest the money they can keep back into their businesses, grow their businesses and employ more Australians.