Small Business
Background
The member cited media reports alleging that Labor MPs were criticizing the government's approach to small business, specifically regarding trust structures used by tradespeople.
Question
The member asked when the minister would cease what she described as a war on small business and remove tax measures impacting tradespeople.
Answer from Anne Aly
The minister stated that the economy saw the addition of more than 385,000 new businesses last year, with 1.4 million companies registered since the government took office, a 35 per cent increase compared to the previous administration. She noted that insolvency rates were half the average under the Howard government. The minister highlighted that the government had made the $20,000 instant asset write-off and the two-year loss carry-back permanent, measures originally introduced by Labor and previously reduced by coalition governments.
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