Small business leaders across Australia, representing the country’s 2.6 million small business owners, have launched a targeted campaign urging Prime Minister Anthony Albanese and Opposition Leader Peter Dutton to reduce company taxes.
The push focuses on a tax cut for businesses with annual turnovers of under $20 million, aiming to alleviate financial strain and prevent further closures.
The Council of Small Business Organisations Australia (COSBOA) will roll out an extensive advertising campaign to address concerns over rising costs, labor shortages, red tape, and industrial relations rules.
COSBOA CEO Luke Achterstraat emphasised that small businesses, which make up 97.7% of Australian businesses and employ over 5 million people, are crucial to the economy but are struggling under the weight of increased costs.
Research commissioned by COSBOA found strong public support for tax cuts, with 69% of voters backing the move, and support climbing to 76% in key marginal seats.
Focus groups revealed that half of small businesses are concerned about their survival without urgent support.
Anthony Karnasiotis, co-owner of Goodfields Eatery in Lindfield, echoed these concerns. He noted that rising costs across every aspect of his business, including wages, insurance, and utilities, were severely impacting operations.
“The impact of a tax cut would be instant and huge,” Karnasiotis told The Australian, adding it would allow them to hire more staff and absorb fluctuating costs.
Meanwhile, NSW miners are also increasing pressure on the government regarding planning approvals for projects, with some citing concerns over delays affecting key job-creating ventures.
Mining representatives have identified several key electoral seats where support from mining communities could influence the outcome of the 2025 election.
Source: The Australian.
