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Labor no friend of small business

Media Releases

Date : 21 January 2019

THE HON JOSH FRYDENBERG MP
Treasurer

SENATOR THE HON MICHAELIA CASH
Minister for Small and Family Business, Skills and Vocational Education

JOINT MEDIA RELEASE

21 January 2019

LABOR NO FRIEND OF SMALL BUSINESS

Bill Shorten and the Labor Party simply cannot be trusted when it comes to supporting small and family businesses.  When Labor was last in government, 519,000 jobs were lost in the small business sector. Now, they want to introduce a new tax on trusts that will hit at least 300,000 small businesses.

The Coalition Government’s record of support for small business speaks for itself.

In contrast, Labor:

Further, Labor has previously said it would change the legislated definition of small business, denying businesses with turnover between $2 million and $10 million access to important tax measures, denying around 100,000 small businesses access to the instant asset write-off and denying around 30,000 small businesses access to the unincorporated tax discount.

Small and family businesses contribute hundreds of billions to the Australian economy and employ almost seven million Australians.

Bill Shorten and the Labor Party will roll over to their union masters who are demanding more power to interfere in the day-to-day running of Australia’s small and family businesses.

As part of our plan for a stronger economy, the Coalition Government has a comprehensive set of policies to support the continued success of small and family businesses.

Ends

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