Small businesses make a huge contribution to national prosperity and Australian jobs.
Labor stands for helping our small businesses succeed in a competitive global economy.
That’s why Labor will support the cut in the company tax rate for small businesses to 27.5 per cent as proposed in the 2016 Budget. This means 83 per cent of all businesses in Australia will get a tax cut under Labor.
Labor will not support changing the definition of small business to include businesses with a turnover of up to $1 billion. These are not small businesses.