The Coalition’s Six-Point Small Business Action Plan
03-April-2009
“The Coalition has developed a six-point Small Business Action Plan to give small businesses in the North-east the appropriate support they need to lead Australia’s economic recovery,” Federal Liberal Member for Indi, Sophie Mirabella MP said today.
“The Coalition believes small business is the most critical part of our economy – the source of much of Australia's innovation, economic growth and job creation.”
“Small businesses in the North-East employ the bulk of locals. It is crucial they are provided with the right government assistance to get through these tough times,” Mrs Mirabella said.
“The Coalition’s six-point action plan includes proposals that offer a financial lifeline to struggling local small businesses that directly assist cash flow and help protect local jobs.”
Mrs Mirabella said unlike Labor, the Coalition is serious about protecting local jobs and creating new opportunities for Australians.
“The Coalition’s six-point Small Business Action Plan includes ideas and suggestions from family business owners, contractors and local employees who work in small firms, all of whom have provided me and the Coalition with great suggestions on how to get the economy moving again,” Mrs Mirabella said.
“We recognise that many small businesses are family businesses and they face real challenges in these difficult economic times. Economic difficulties are tough on families. These problems are even more pronounced if the family are all in business together.”
“I have listened to family businesses in the North-East who are concerned the Rudd Labor Government’s policies do not do enough to help them in these tough times,” Mrs Mirabella said.
“Struggling small and medium businesses in Indi will benefit from the Coalition’s six point action plan, particularly the initiative to carryback tax losses and temporary relief from compulsory superannuation payments.”
The Coalition’s Six-point Small Business Action Plan delivers for small business:
1. Tax loss carryback
This measure will boost small business cash flow by allowing a two year window for small businesses to offset the tax value of any operating losses incurred in the 2009 or 2010 years against up to $100,000 of taxes they paid over the past three years. This measure will enable small businesses to be refunded these taxes sooner.
2. Superannuation Guarantee relief
To help small businesses keep their staff on the payroll, the Commonwealth would partially cover the Superannuation Guarantee Contribution for two years. The Commonwealth would contribute 3 per cent in the first year and 1.5 per cent in the second year, for businesses with 20 or fewer staff.
3. OECD-best practice regulatory burden
Cut red tape and time spent filling in forms and filing taxes by reducing Australia’s overall regulatory burden to match and surpass OECD best practice.
4. One-stop-shop regulatory portal
This measure will deliver a one-stop-shop regulatory portal that provides online access to all forms and filings, regardless of which level of government imposes them. The Coalition will create a small business service delivery agency charged with delivering integrated online access.
5. Support for family businesses
The new small business service delivery agency will provide more support for small family businesses, by providing advice on succession planning and family business professionalisation.
6. Cabinet-level representation
Cabinet-level representation for small businesses, ensuring they have a seat at the table in Canberra that matches their importance to the national economy.