Suite of measures from Coalition will boost small business; but tax reform is imperative

MEDIA RELEASE

19 April 2025

The Council of Small Business Organisations Australia (COSBOA) today welcomed the Coalition’s plan for small business as one having a strong foundation but requiring further action.

COSBOA CEO Luke Achterstraat said many of the elements of the plan aligned with the peak body’s policy requests on behalf of small business across areas such as tax, redtape, competition, payments and industrial relations.

“Small businesses are the backbone of the economy but have been facing numerous headwinds in recent years: a perfect storm of costs and an increasingly complex regulatory environment.”

“This plan includes new initiatives such as the Entrepreneurship Accelerator and Tech Boost which provide real incentive for early-stage businesses and those seeking to upgrade their digital assets.

“Combined with a commitment to make the Instant Asset Write-Off permanent and lift its threshold, and the removal of FBT on meal expenses for small business, there is some very positive and tangible support for the sector on the table.”

Mr Achterstraat also welcomed the commitment to enhance the role of the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and the creation of a Small Business Deregulation Taskforce in Cabinet.

“Removing redtape requires more than rhetoric – it needs a concerted effort and coordination between key portfolios. It is vital this taskforce engages with industry and is ambitious in its agenda.”

COSBOA also welcomed the attention on payment, competition, skills and employment.

“A direct incentive of $12,000 for small business to hire apprentices in shortage areas is sensible, as is returning to a clearer definition of casual employment.”

However, Mr Achterstraat said an opportunity still exists to commit to game-changing tax reform and productivity improving initiatives.

“Our Fair GO for Small Business campaign is asking for a tax cut for small business from 25% to 20% to provide immediate and ongoing relief to the lifeblood of our economy.

“This would be a game-changer for small businesses, allowing them to keep more of their income to reinvest, grow and thrive.

"To truly underwrite the future of small business in Australia, we need bold reform to reignite confidence.”

For more on COSBOA and the Fair GO campaign, visit: https://fairgo.cosboa.org.au/.

-ENDS-

For media enquiries or interviews, please contact Luke Achterstraat, Chief Executive Officer, COSBOA on ceo@cosboa.org.au or call +61 (0) 433 644 097.

About COSBOA

Established in 1979, The Council of Small Business Organisations Australia (COSBOA) is a member based not-for-profit organisation exclusively representing the interests of small businesses. The capability, representation, and reach of COSBOA are defined by a mix of over 50 national and state-based members. COSBOA's strength is its capacity to harness its members' views and advance consensus across policy areas common to many.

Our member organisations work with the COSBOA team to assist us with policy development and guide our advocacy - not just for small businesses but also for the benefit of the Australians they employ. In this capacity, COSBOA makes submissions and representations to the government, including its agencies, on issues affecting small businesses and to pursue good policy.

For more information, visit www.cosboa.org.au