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Wednesday 6 May 2015:

All that Australian small business ever needed to know about Labor’s continuing disinterest in them was captured by Bernie Ripoll in his press release today.

Even before any detail has been announced, Labor’s spokesman Bernie Ripoll has issued a scaremongering statement, seeking to corrode business confidence by signalling that Labor will oppose the Coalition’s tax cuts for small business.

Labor is continuing to ignore the needs of the enterprising small business women and men of Australia. Whilst our government is actively making real improvements to the small business environment, Labor will only signal opposition to small business measures to grow our economy and create jobs.

Labor showed no interest in the 519,000 job lost across small business under their watch and nor in the harm these losses caused small business people and our economy. They didn’t care then and they don’t care now.

Not only are they obstructionists -this same old ‘no ideas’ Labor is divided and confused. The Shadow Minister is opposing a Coalition initiative that Labor’s Shadow Treasurer has previously supported*.

Bill Shorten has to step in and end the confusion his divided team is creating by clarifying – is Labor for or are they against tax cuts for small business?

We need all political parties getting behind the Coalition agenda to support the small business engine room grow our economy, jobs and opportunity.

[ENDS]

*Bernie Ripoll claims:
“Now in an attempt to grab a headline and save his own skin, the Prime Minister is proceeding with his ham-fisted plan to introduce a two-tier corporate tax system against the wishes of Australian businesses.” (Source: Bernie Ripoll, Media Release, 6 May 2015)

Yet Chris Bowen has openly called for “A Small Business Tax Rate”. This is from page 55 of Chris Bowen’s book titled “Hearts and Minds” released back when Chris Bowen was Treasurer:
“A Small Business Tax Rate – Australia has a progressive income tax regime but a flat corporate tax rate. This is not the case everywhere in the world. Several countries have a lower company tax rate for small businesses. This recognises that bigger businesses have economies of scale and advantages that small business simply can’t access. The United Kingdom, Canada, Chile, Singapore, Brazil and Malaysia have lower company tax rates for small business than big business. This isn’t, of course, a majority of the world’s economies, but enough countries around the world do this to provide food for thought. It is true that most small businesses in Australia are not incorporated and so pay personal income tax and not company tax. But for those small businesses that are incorporated a tax benefit of even a few percentage points would be welcome recognition by government of the challenges of small business. When fiscal circumstances allow a reduction in the corporate tax rate, giving small business a bigger tax break than larger businesses should be on Labor’s agenda. A cut in the company tax rate would be a good thing, and it could be augmented by giving small business a slightly bigger cut.” (Source: Chris Bowen, Hearts and Minds book, July 2013, p55)