QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:13): In relation to why small businesses should be backing Labor, I want to run through a list of some of the things we've delivered. There is the $20,000 instant asset write-off, which is permanent, and the two-year loss carry back, which is now permanent.

This is a measure that we introduced in 2011 and a measure that you unwound in office. Now we are making these tax measures, which benefit small business, permanent. We've introduced loss refundability for startups.

There are tax cuts for about 1.5 million sole traders, including the new working Australians tax offset. We've expanded tax incentives for venture capital and are expanding CGT concessions to all 2.7 million small businesses and 98 per cent of all active businesses. We are reforming the R&D tax incentives, and we are cutting regulatory costs by over $10 billion.

And, as I recall, you opposed the first tranche of— (Time expired)