- Labor’s $230 billion income tax and $6.5 billion deficit levy will make it harder enterprising and aspirational small business owners and our economy will weaken making it ever harder.
- Labor’s $31 billion housing tax will make it harder for small business owners who rely on the equity in their homes to access finance and those who don’t with higher rents. Our tradies will directly feel the impact of the drop in building activity and our economy will weaken making it even harder.
- Labor’s $57 billion retiree tax will diminish the value small business owners have built up in their business and our retirees will no longer be able to afford to be out participating in their local economy making it even harder.
- Labor’s $27 billion family business tax is the most appalling of all the taxes on small business. Bill Shorten wants small family businesses taxed at the same rate as large multinational companies. 300,000 small family businesses that use trusts for asset protection, estate planning and cash flow.
- Labor’s $34 billion in superannuation taxes will make it harder for entrepreneurs working another job while they start up their business reducing the incentive for them to save for their retirement. 800,000 Australians currently benefit from deducting personal superannuation contributions where more than 10 per cent of their income is from outside their business.
- Labor’s $2 billion tax return tax will make it harder for many sole traders. They may no longer be able to afford the important advice they need.
- Making matters worse the $387 billion doesn’t take into account Labor’s electricity tax and car tax which will push up the cost of doing business and mean businesses may not be able to purchase the vehicles they need to get the job done.
/National Party's Public Release. View in full here.