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Additional Information
Newsflash
Removing tax burdens on small business will help protect more people from sliding into bankruptcy, the federal opposition says.
The number of Australians who are bankrupt or insolvent has hit an all-time high, according to the Insolvency and Trustee Service Australia (ITSA).
Figures released on Friday by the ITSA show in the three months to December 2008, 6,649 new bankruptcy claims were made.
This represents a jump of more than six per cent for the same period in 2007.
The number of people who made debt agreements with creditors also increased by more than 37 per cent for the same period.
Opposition treasury spokeswoman Julie Bishop said removing burdens on small business would help protect jobs.
"The government should reduce taxes and government fees and charges on business so it can afford to continue to employ workers," Ms Bishop said.
"It should ensure that business is not paying one dollar more than it should in government fees and charges."
Ms Bishop said the government's bank deposit guarantee scheme should also be dependent on banks passing on interest rate cuts in full.
"The government should seek this assurance from banks."