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Summary: Abbott Coalition Plan for Small Busines

In late January 2013, the Abbott Coalition released “Our Plan. Real Solutions for all Australians.”

ICA’s assessment is that Abbott’s Plan contains real substance for small business, self-employed people. Below are relevant small business extracts from Abbott’s Plan.

Create jobs
“By unshackling the small business sector we will unleash the potential of small businesses to grow and create more jobs.”

Reduce taxes
‘…reduce costs for every business by cutting taxes: by abolishing the carbon tax and cutting company tax.”

Reduce regulation
“…cut government red and green tape and reduce the regulatory burdens that small businesses face.”

Simplify Superannuation Administration
“We will allow small business to send one payment directly to the Australian Taxation Office for superannuation and then the Australian Taxation Office will do the rest…”

Sensible Paid Parental Leave Administration
“We will give employers the option of ‘opting in’ to managing the administration of Paid Parental Leave to their employees. If they choose not to be the government’s paymaster, payments will be made directly to the employee.”

More small businesses
“We will achieve an annual growth rate in the numbers of small businesses of 1.5 per cent – the same rate the Howard Government was achieving. We will then be adding more than 30,000 new small businesses each year. That’s double the rate achieved under the current government.”

Fairer competition laws
“We will conduct, for the first time in two decades, a root and branch review of competition laws and policy and deliver more competitive market.”

Unfair contract protections
“We will extend unfair contract protection currently available to consumers, to small businesses. We will ensure that big and small businesses get a ‘fair-go’ and do the right thing by each other in their respective marketplaces…”  See ICA commentary.

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