Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2025

The PRESIDENT (23:26): I will now deal with the second reading amendment circulated by Senator David Pocock. The question is that the second reading amendment on sheet 3356 be agreed to. Senator David Pocock's circulated amendment— At the end of the motion, add ", but the Senate: (a) notes that: (i) small businesses are the backbone of the Australian economy and it is incumbent on this Parliament to deliver reforms that give small businesses the confidence to invest in their own productive capacity and to grow, (ii) business insolvencies are at record highs and the Government has so far failed to deliver certainty to small businesses regarding the instant asset write-off and a policy environment that promotes growth, (iii) small businesses are asking for a simpler tax system with permanent supports that gives them certainty, rather than the annual politicking around instant asset write-offs that have so far defined the Government's approach to small business policy; and (b) calls on whoever forms the next Government to increase the instant asset write-off to an annual cap of at least $30,000 per year and to make it a permanent support available to small businesses going forward".

Question negatived. The PRESIDENT: The question now is that this bill be read a second time. Question agreed to.

Bill read a second time.