Small business owners wary of pre-poll pledges
Fairfax spoke with several small business owners who outlined the pledges they want to hear in the lead-up to the election, but say they are also sceptical that the promises politicians make between now and the election will be kept.
Tristan Sternson, founder and CEO of business intelligence and knowledge management consultancy InfoReady, wants both parties to commit to a promise to reinstate the $50,000 per annum limit on non-concessional super fund contributions. At the moment taxpayers can only contribute $25,000 to their super fund each year before being penalised.
"Payroll tax is another issue for small businesses. I would like to see this reduced or abolished, and more grants and subsidies introduced to support the growth of small to medium businesses," Mr Sternson says.
Ruslan Kogan, founder of discount electronic e-tailer Kogan, says: "I want Ms Gillard and Mr Abbott to reduce the red tape which is hurting Aussie businesses and workers."
Andrew Thomas, managing director of IT consultancy, Thomas Duryea Consulting says: "I'm looking for strong, unwavering leadership that delivers confidence back to the Australian people and in turn our economy."
Tony Fontes, owner of Queensland dive business Diving Careers, wants better protection for the Great Barrier Reef. He's looking for a promise from the Labor Party to protect and maintain the reef "like UNESCO has been asking for".
"UNESCO is threatening to remove the reef's World Heritage listing. That would be a disaster for both the reef and the tourism industry and those of us that depend on the reef for our livelihoods," Mr Fontes says.
If the Coalition gets in, he wants the party to support the carbon and mining taxes. "Close the loopholes of the mining tax so it brings in more money to Australia," Mr Fontes says.
Dean Ramler, founder and CEO of online furniture store Milan Direct says: "I hope [Labor] will not hit Australians with new and higher taxes. I would like to see Mr Abbott assist small business more and look to get rid of a lot of the red tape strangling many a business. Small business is the backbone of the economy and as such, more recognition and support is required."
Mr Fontes says it is "a sad fact" that small business owners have little faith that either party will keep their pre-election promises.
Frequently Asked Questions about this Article…
Small business owners in the article want the next government to cut red tape, reduce or abolish payroll tax, restore a higher non‑concessional superannuation contribution cap, introduce more grants and subsidies for growth, and offer targeted protection for sectors such as tourism (for example, measures to protect the Great Barrier Reef).
Founders quoted in the article want the $50,000 per annum non‑concessional super cap restored; currently the limit is $25,000 before penalties apply. For everyday investors and small business owners, a higher cap would allow larger after‑tax contributions to superannuation, potentially boosting retirement savings and giving business owners more flexibility in tax‑effective wealth accumulation.
Payroll tax is described in the article as a burden that increases operating costs for small businesses. Reducing or abolishing payroll tax is seen as a way to ease costs, support hiring and growth, and improve cash flow — factors that can make small businesses more attractive to investors and help them scale.
'Cut the red tape' refers to reducing regulatory compliance, paperwork and administrative hurdles. Business owners in the article (including the founder of Kogan) say less red tape would lower costs and free up resources for growth. For investors, fewer regulatory barriers can mean faster expansion, improved profitability and a clearer path to returns.
A Queensland dive‑business owner in the article warned that UNESCO is threatening to remove the reef's World Heritage listing, which would harm tourism and livelihoods that depend on it. Investors in tourism and regional businesses watch reef protection policies closely because changes could materially affect visitor numbers, revenues and local employment.
One owner said that if the Coalition wins, he wants support for carbon and mining taxes with loopholes closed so the taxes raise more revenue for Australia. The comment reflects calls for clear tax frameworks that balance industry impacts with government revenue objectives — an important consideration for investors in resources and related sectors.
No — the article reports that many small business owners are sceptical and have little faith that either party will keep pre‑election promises. That scepticism matters to everyday investors because policy uncertainty can affect business planning, risk assessments and investment timing.
The article quoted several small business leaders: Tristan Sternson (founder and CEO of InfoReady) who wants the $50,000 super cap reinstated and payroll tax relief; Ruslan Kogan (founder of Kogan) who wants less red tape; Andrew Thomas (managing director of Thomas Duryea Consulting) who wants strong leadership to restore confidence; Tony Fontes (owner of Diving Careers) who wants reef protection and stronger mining/carbon tax settings; and Dean Ramler (founder and CEO of Milan Direct) who urged no new taxes and fewer regulations to support small business growth.
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