Bankers and accountants give their full support on the federal government's proposal on superannuation.

Alex Malley, chief executive of Certified Practising Accountant (CPA) Australia, urged the opposition to give their support to the proposal to increase the superannuation guarantee from nine to 12 per cent after nine years.

The government revealed its response after the release of the Henry Tax Review on Sunday.

"We are in an election year, and I think we need to get to a point where the business community and the broader community have a sense of where we are going post this next election," he said.

"If we have a tax regime that doesn't have certainty, that isn't necessarily competitive, then the chances are people will move to where they are going to actually be able to have more powerful careers and more positioning in tax systems."

Meanwhile, small businesses,with turnovers less than $2 million, will have tax cut from 30 per cent to 28 per cent from 2012 to 2013.

In 2013 to 2013, the tax cuts will be reduced to 29 per cent. It will drop to 28 per cent from 2014 to 2015.

The total package is valued at $3.9 billion for the next four years.

Prime Minister Kevin Rudd hopes that the proposal will promote growth in the economy to avoid the risk of a two-speed economy.

The changes will benefit 720, 000 small businesses in Australia.