I begin by acknowledging the traditional owners of the land on which we meet and I pay my respects to their elders past, present and emerging.
To your association’s president, Ms Bihong Wang, to the many state and federal parliamentarians and other elected and consular representatives here tonight, including Gabriel Ng and Carina Garland, and to the award judges, sponsors, finalists and winners, thank you so much for that warm welcome.
Last year I was able to attend your Box Hill Chinese Lunar New Year Festival and was struck by your amazing community spirit.
I understand that as part of tonight, we’re raising funds for the Paediatric Department of the Eastern Health Foundation.
There’s no better cause than the health and wellbeing of our children, so give generously, as I know you will.
It demonstrates once again the immense contribution the broad Asian diaspora – and indeed all the communities represented here tonight – are making to our nation.
As this room proves, we are a strongly multicultural country – and proud of it.
Multiculturalism is part of the bedrock of our future social and economic success.
The proposition that we could somehow return to some older, less diverse past is absurd – because that past never existed.
Australia has always been multicultural.
I am proud of our success as a nation.
With the exception of Indigenous Australians, we are a country of migrants or descendants of migrants. People who came to Australia seeking a better life. Maintaining pride in their heritage while being proud and loyal to Australia.
So many have established businesses, worked hard and helped to build our nation. And their connections with the world give Australia a competitive advantage.
The facts speak for themselves.
Our largest trading partner is China – with $326 billion of annual two-way trade.
Our second-largest trading partner is collectively the ASEAN Member States – with almost $200 billion in trade.
Our fifth-largest trading partner is Japan – with almost $100 billion of trade.
Our sixth-largest trading partner is Korea – with $68 billion of trade.
And the eighth – India – provides $50 billion in trade and growing fast.
Those numbers say it all – our cultural strength and economic prosperity are inseparable. You can’t abandon the first and hope to succeed in the second.
I say to everyone here tonight –
You’re not just running businesses –
You’re not just generating prosperity –
You’re bringing people together and making the modern world turn.
And you’re doing it in our region, which is the fastest growing in human history.
The many advantages of our diverse society are obvious. Blindingly so.
Again, they are here in this room.
Everyone here tonight is powering a path to increased productivity and to a better future for our country.
Not just through your famed achievements in education, which is one of Australia’s great success stories.
But through your outstanding success in small business.
We know that rates of entrepreneurship are high for Australians from culturally diverse backgrounds – with young entrepreneurs of Asian heritage especially well represented.
Small and emerging businesses like these are making the most of new technologies like artificial intelligence that are helping our economy thrive.
It all means our small business success is yet another great symbol of your determination to succeed.
And my government is determined to help you continue to succeed, because it means Australia will succeed.
In the recent Budget, we introduced $3.8 billion in new measures to lower taxes for businesses and start-ups and support small business risk taking and investment.
We increased the turnover threshold for the 50 per cent active asset Capital Gains Tax reduction – from $2 million to $10 million.
We introduced a two-year loss carryback for small businesses – to help new businesses invest and grow in their first 24 months.
We made the $20,000 instant asset write off permanent.
While capital gains taxes relating to housing have been changed – to give your children a decent crack in the housing market – all four small business capital gains tax concessions are staying in place.
And we’ve introduced important measures to support the mental health and financial wellbeing of Australian small businesses.
And all this is on top of the economic stability we have delivered for the nation – creating 1.2 million jobs, low unemployment, and rising wages, so your customers can afford to buy more of the great products and services you create.
Friends, cultural diversity along with expanding trade with our region has made our continuing national success possible.
We must keep it going.
Your success is vital to Australia.
We celebrate you and your amazing contribution to our country and salute the exciting, innovative and caring work you are doing.
I congratulate all the finalists and winners of these awards.
Have a wonderful evening.
