Opposition Leader Bill Shorten's proposed small business tax cuts would divide the sector, according to Treasurer Joe Hockey.
While the government welcomes Labor's support for its proposed 1.5 per cent cut to the small business tax rate, Mr Hockey says the opposition's plan for a "company tax" cut leaves behind the majority of Australia's small businesses.
"The two-thirds of small businesses in Australia that are not incorporated, that are partnerships or sole traders, they miss out under Bill Shorten's plan," the treasurer said.
"You can't leave anyone behind when you change policy and clearly Mr Shorten's policy is going to create not only two tiers of small business, but it's going to mean one small business is going to be severely disadvantaged against another."
Share
