Opened the debate
Fernando argued that small businesses are vital to the local economy and community, noting that rising costs and global pressures create significant challenges. Fernando stated that the federal government supports these enterprises through $3.5 billion in new business tax relief, including a permanent $20,000 instant asset write-off and a two-year loss carryback. Fernando also mentioned a $250 tax offset for sole traders and loss refundability for start-ups to aid growth. Fernando congratulated five award-winning businesses, including Brian's Gourmet Meats and Taste of Bharat, for their community contributions and service. Fernando emphasised that supporting small businesses ensures the broader community thrives.