Tuesday, 13 October 2026

Topics: trusts legislation; small business; inflation; interest rates; Josh Frydenberg.

E&OE……………………..

Tim Wilson: The trainwreck of the Albanese government's active inflation agenda continues to push up interest rates for Australian households. The Albanese government's declaration of war on the small businesses of the country is now meaning that they're going to be hit with a $13.3 billion bill just to adjust to the tax arrangements the government didn't have the courage to take to the last federal election. The Federal Government continues to punch down on small businesses and seems to see them as a honeypot for their spending addiction and a pathway for revenue to feed the government. The Albanese government doesn't care about small businesses and doesn't care about the impact their policies and their new taxes have on small businesses. The Albanese government is going to impose $13.3 billion of additional cost on small businesses that are already facing record insolvencies, a record number of Australians simply walking away, and declining profitability. We've had 50,000 small businesses become insolvent under the Albanese government. When is this government going to learn? Punching down on the small businesses of this country is not a pathway to economic prosperity, it's not a way to improve living standards or productivity, and it's attacking, not just small businesses, the Albanese government's approach is attacking communities and the strength and the bonds that bring people together. The Albanese government is only interested in one thing: feeding itself. And when it does so, when it targets and attacks small businesses, it then feeds inflation, increases interest rates, and pushes higher costs onto supermarkets across the country. Australia needs someone to stand up for the small businesses of this country. Small businesses of this country need a champion who stands forward and will stand up against the Albanese government's tide. And at every point, the Taylor Opposition and our team has a clear plan to focus on how we're going to back small businesses and give them economic hope. We've already outlined that we're going to increase the instant asset write-off to $50,000 and make it permanent. But we want to introduce a Small Business Act to act as a legislative shield for the small businesses of this country against the Albanese government's direct assault on the small businesses of Australia.

Journalist: Does that $13.3 billion include the cost of having to pay more tax and to rearrange your affairs so that couples are no longer able to income split and avoid tax?

Tim Wilson: So that's not what this analysis is about. The analysis is about the cost of restructuring in light of what the Albanese government is doing around trusts and the focus is around asset protection for small businesses.

Journalist: The Treasurer has flagged further tax cuts ahead of the election. Would you support those?

Tim Wilson: I don't believe anything the Treasurer says on tax. They went to the last election saying 50 times over they wouldn't introduce taxes on small businesses, they wouldn't increase taxes on Australian households, and instead they've done that. And let's just remember, every time the Albanese government claims to cut taxes, it's overtaken by inflation and their active inflation agenda. That's why real wages are going backwards, and that's why Australian households are struggling under the cost of the Albanese government.

Journalist: Would you welcome a political comeback from Josh Frydenberg?

Tim Wilson: I've said consistently, I want good candidates to stand everywhere so we can elect a Taylor-led Liberal majority government in Coalition with the National Party. And so, if Josh wants to put his hand forward, so be it, because we want the best candidates on the ground in the communities committing to make sure that we can build a better nation.