Bill's Media Releases

Media Release: Tony Abbott says no to tax cuts for Maribynong small business

Opposition Leader Tony Abbott has taken his negativity to a new low, confirming that the Coalition will try to block small businesses in Maribyrnong from sharing in the benefits of the mining boom.

The Gillard Government has legislation to cut the tax rate for small companies to 29 per cent from 30 per cent and provide a new $6,500 instant asset write-off for all small businesses from July 1.

"Most people in Maribyrnong would be appalled to learn that Mr Abbott wants to stop tax relief for small businesses and instead give a huge tax cut to the likes of Clive Palmer and Gina Rinehart,’’ Federal Labor Member for Maribyrnong, Bill Shorten said.

“Labor wants to make sure that everyone living in Maribyrnong can benefit from Australia’s strong economy, not just the wealthy mining companies.”

Mr Abbott told 2SM radio this morning (March 14):

  • INTERVIEWER: The Federal Treasurer Wayne Swan has challenged you to support the Government’s proposed tax cuts for small businesses. Where do you actually stand on that?

  • ABBOTT: Well we’ve always said that we don’t support the mining tax and we’re not going to support the mining tax and we’re not going to support the other measures associated with it.

Not only is Mr Abbott standing in the way of small business tax cuts, he’s also standing in the way of increasing the retirement savings of all working Australians.

What the mining boom will deliver for Maribyrnong

  1. A major new tax break for 14,500 local small businesses as well as a cut to the company tax rate for all businesses, large and small,

  2. A boost to the superannuation from 9% to 12% for 43,100 Maribyrnong workers, providing a 30-year-old worker on average earnings with an extra $108,000 in retirement savings; and

  3. A much-needed extra superannuation contribution for 20,800 low-income-earners living in Maribyrnong.

Labor wants to spread the benefits of the mining boom to all Australians as opposed to the Liberals, who think only a fortunate few deserve to benefit.

Suburbs in the Maribyrnong electorate include: Aberfeldie, Airport West, Albion, Avondale Heights, Brooklyn (part), Essendon, Essendon North, Essendon West, Kealba, Keilor East, Keilor Park, Maribyrnong (part), Moonee Ponds, Niddrie, St Albans (part), Sunshine, Sunshine North and Tullamarine (part).


Media Contact:

Jayne Edwards

Kieran Barns-Jenkins

9326 1300