What it does for WA
There are more than 211,000 small businesses in Western Australia - that's more than 95% of all businesses in our state - and they will benefit from our reform plan.
STANDING UP FOR SMALL BUSINESS
LOWER TAX AND A STRONGER VOICE
95.1% of businesses in Western Australia have less than 20 staff, and 84.2% of business in Western Australia employ have fewer than five staff. That's a huge proportion of the state's businesses, yet small business continues to be ignored by the Liberals and Labor alike.
Despite their rhetoric, when it comes to concrete policy Labor and the Coalition ignore the pressures faced by small businesses. Only The Greens have a comprehensive plan to support the sector that employs more than five million Australians.
In early 2013 the Greens legislation to empower the Federal small business commissioner was rejected by the Liberals, the Nationals and Labor despite stakeholder support for the proposed legislation.
The Greens recognise small business does a lot for Western Australia - which is why we are lowering tax rates, expanding tax breaks, and providing extra funding and legislative powers for the national Small Business Commissioner.
The Greens small business plan includes:
• Increasing the instant asset write off threshold from $6,500 to $10,000 as recommended by the Henry Tax Review. The independent Parliamentary Budget Office estimates this initiative would cost $600 million over the forward estimates. This will help small businesses to purchase productive assets to help grow their businesses.
• Doubling the funding for the national Small Business Commissioner to $10 million to provide adequate resources for staffing, mediating disputes, carrying out research and advising the federal government on key policy decisions. The Greens also want to legislate this position to ensure the Commissioner has the power to be an effective advocate for small business and to prevent any incoming government from abolishing the position, which is what happened in Queensland when Campbell Newman took power.
• Cutting the company tax rate for small business by 2% at a cost of $1.75 billion over the forward estimates.
• Strengthening competition policy to prevent big business using their market power to gain unfair advantages over small business. For more information click here
Cutting the company tax rate for small business by 2% will cost $1.75 billion over the forward estimates - which will be more than balanced by strengthening the mining super profits tax to 40% on after-tax mining profits exceeding $50m year.