The opposition has taken Treasurer Wayne Swan to task for insisting that Australia's 2.7 million small businesses will benefit from a planned cut in the company tax rate.
The government will use some of the revenue from its minerals resource rent tax to fund a reduction in the corporate tax rate from 30 per cent to 29 per cent.
The nation's small businesses will get a head start, receiving a tax cut as early as July 1, Mr Swan spruiked in parliament today.
But opposition small-business spokesman Bruce Billson says that's not the case.
"This is complete oversell and spin," he told AAP.
Only 30 per cent of small businesses were incorporated as companies. Of those, only half paid company tax.
"Those that do will get a one-cent-in-the-dollar cut," Mr Billson said.
Yet all small business would be impacted by the carbon tax which also operates from July 1, he said.
