Federal Opposition announces a series of measures for the small business sector

With the Federal Election just weeks away, the Federal Opposition announced a series of measures for the small business sector on 20 August 2013, including:

  • Reducing the company tax rate from 30% to 28.5%
  • Scrapping the Government's plan to phase out the statutory formula method used to calculate car fringe benefits
  • A more generous paid parental leave scheme (to be administered by the Government, not employers)
  • Ensuring Government agencies pay small business bills within 30 days
  • A commitment to work with the financial sector to improve access to small business finance
  • The freezing of the 9.25% superannuation guarantee rate until at least 1 July 2016
  • Immunity from fines for breaches of employment entitlements (provided the breach is not deliberate and advice from the Ombudsman was sought).