The $5.5b small business package, centerpiece of the Federal Budget 2015-16, has attracted bipartisan support from all major parties last week, despite debate around funding measures and reducing the overall deficit still raged on at the end of budget week.
In his budget reply speech last Thursday night, federal opposition leader Bill Shorten proposed to drop the small business tax even further if elected, despite confirming he will support his counterpart's measures announced on Budget Night. Two days after the Treasurer Joe Hockey delivered his second budget, Bill Shorten told parliament the government needs to do more to drive small business investment, remarking the 1.5 per cent tax cut provision is not enough to kick start the Australian economy. He has fallen short in outlining how he plans to fund the cut of up to 5% he wants to introduce though. In contrast see what the government's plan is for small businesses, and other areas within our comprehensive Federal Budget Report 2015-16 released last Tuesday night.
Click here to access our Federal Budget Report 2015-16.
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