CRAIG’S
position
ON THE
ISSUE
“Small and family business is the engine of jobs growth in Australia – and we must support those who back themselves to succeed.”
- Craig Laundy MP

The Coalition Government recognises that in order to have a prosperous economy, we must create the appropriate environment for businesses to operate and expand.

For this reason, one of the first pillars of our small business policy has been to cut red and green tape, ensuring that at least $1 billion per year is saved by business. We believe this will benefit small and family business above all because of the disproportionate burden that it traditionally has been on them.

Lower and simpler taxes are also a key part in encouraging business to reinvest and expand their operations. This will also ensure that Australia continues to be attractive to capital investment, both domestic and foreign.

GET
THE
FACTS
KEY
POINTS

Cutting Red Tape

The Coalition made a commitment before the 2013 election to ease the burden imposed on Australian businesses by reducing red tape by at least $1 billion per year.

As of March 2014, the deregulation savings have amounted to $700 million of that target.

One important aspect of the Coalition’s deregulation agenda is the implementation of a ‘one stop shop’ for environmental approvals, to get rid of needless and costly duplication of paperwork while retaining Australia’s current high environmental standards.

Excessive regulation stifles our economic prospects and impedes the work of Australia’s businesses and community organisations.

Small businesses will be given the option to remit compulsory superannuation payments made on behalf of workers directly to the Australian Taxation Office.

Ultimately, we believe that delivering a reduction in regulation will be critical to ensuring Australia’s economic prosperity and development so that Australians continue to enjoy increased living standards.

Lower Company Tax

We will cut the company tax rate by 1.5%, which will see Australian companies paying a new lower rate of 28.5% from 1 July 2015.

By cutting corporate taxes we will make Australian jobs more secure, boost real wage growth and make our economy stronger.

Lowering company tax will make it easier for businesses to hire more people, to expand their operations and become more competitive.

It will also ensure that Australia remains an attractive destination for ongoing capital investment in our economy.

Cutting company tax is a key part of helping Australian workers and easing cost-of-living pressures on Australian families, since it will flow through to better wages for employees of Australia’s 750,000 companies, better returns for shareholders and lower prices.

Help Small Business Access Finance

The Coalition is working with regulatory authorities and lenders to maximise small businesses access to affordable finance, especially where this is secured by personal guarantees or private asset mortgages.

In addition, the Coalition will ensure that greater information is provided to small business about current credit assessment and reporting requirements to help them better meet application requirements.

Boost Confidence and Competitiveness by Abolishing the Carbon Tax

The carbon tax was unequivocally a tax that punished businesses and households for using electricity, and that increased the cost of everyday items.

The Coalition’s determination to abolish the carbon tax will now lift a $9 billion a year tax burden from Australian businesses and households, result in the removal of 19 separate Acts and 1,100 pages of legislation.

This toxic, job-destroying tax punished successful and hard-working Australian businesses, particularly trade-exposed businesses.

A carbon tax only causes jobs and emissions to be exported overseas.

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