Abbot to increase small business procurement opportunity

A coalition government will reduce the rate of company tax to 28.5 per cent from July 1, 2013, Opposition Leader Tony Abbott has announced. The measure, costing $2.55 billion over the forward estimates, will be funded from savings already announced by the coalition.

The coalition also announced it would reward calculated risk-taking to grow small businesses including allowing small business access to commonwealth contracts.

"We will require government departments and agencies to use tender procedures and procurement practices that do not disadvantage small business participation and instead, actively encourage it," small business spokesman Bruce Billson said.

The unfair contracts protections - presently limited to consumers - will be extended for small business.Small business also will get ‘‘a fairer deal’’ by not changing existing laws relating to the treatment of personal service income.

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