SHORTEN CONFIRMS SMALL BUSINESS TAX HIKE

11 May 2017

TONIGHT’S Budget-in-Reply has confirmed a Shorten Labor Government would raise taxes for Australia’s 3.2 million small businesses, reversing the cuts to small business tax delivered this week, Small Business Minister Michael McCormack says.

“Just this week the Coalition Government delivered the lowest tax rate in many decades for small business, but tonight Labor confirmed it would reverse this job-creating tax cut in Government,”
Mr McCormack said.

“Labor voted against our tax cuts for small business. From six weeks of silence, tonight’s speech from Bill Shorten confirms what small businesses and job seekers do not deserve – higher taxes and less opportunities under Labor.”

Mr McCormack said Labor also confirmed it is against cutting red tape for small business.

“Our Budget delivered $300 million in incentives to help the States and Territories remove red tape – but this is also something Labor will reverse,” Mr McCormack said.

“Bill Shorten’s speech confirms what Australians in small business know – Labor just does not understand small business.

In his speech the Labor Leader also announced limiting the amount of support sole traders and partnerships receive in compiling their bookwork, adding another impost on small business.

“By hiking small business tax, Labor shows how little it thinks of Australia’s 3.2 million small businesses, and their dream to grow and create jobs,” Mr McCormack said.

“By keeping unnecessary red tape, Labor shows just how little it values the sector which employs more Australians than any other.

“Tonight, Bill Shorten has turned his back on small business and on 5.6 million Australian workers, and he has confirmed yet again that Labor just don’t get small business.

“While the Labor Party spent Parliament’s recess pacing the press gallery, I travelled across Australia and heard firsthand from hundreds of hard-working small business owners just how beneficial tax cuts are for their business.”

“It’s clear Australians in small business want to have a go. It’s clear they want to expand and hire more people, and they can only achieve this success under the Coalition Government.

“And now it’s clear Labor stands in the way.”

Dom Hopkinson