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Labor's Policies for Small Business

November 15, 2018

Labor’s policies for small business include:

Restore Small Business to Cabinet LINK

Tax Relief for small to medium size businesses: A Shorten Labor Government will deliver tax cuts for small and medium businesses with a turnover of up to $50 million a year, delivering certainty to the sector in a fiscally responsible way.  With Labor, small and medium-sized businesses with a turnover of up to $50 million a year will have their tax rate reduced to 25 per cent by 2021-22.. LINK

Australian Investment Guarantee: Labor’s Australian Investment Guarantee will allow all businesses in Australia to immediately deduct 20 per cent of any new eligible asset worth more than $20,000, with the balance depreciated in line with normal depreciation schedules from the first year. LINK

Second Commissioner – Appeals within the Tax Office: Labor will legislate to establish a new position of Second Commissioner (Appeals) within the Tax Office, to ensure small business disputes are given the care and attention they deserve. LINK

Labor's Competition Suite (Giving the ACCC more teeth): Labor will improve access to justice for small business and level the playing field in cases of anti-competitive behaviour by big business. Labor will restore the balance by letting a small business request a ‘no adverse costs order’ early in a court case. LINK

Fraudulent Phoenix Activity: Labor will crack down on fraudulent phoenix activity through a package of reforms including tightened laws to protect employee entitlements and harsher penalties to deter and punish dodgy directors. LINK

NBN Service Guarantee: Labor will establish an NBN Service Guarantee that will deliver better protections for small business and consumers. The Service Guarantee will set regulated timeframes and wholesale service standards which will be enforced through financial penalties. LINK

Click here to watch a Video explaining the policy

NBN: Labor is calling for Fibre to the Curb (FTTC) at a minimum, instead of FTTN, in the areas where that remains feasible, to provide consumers with a faster and more reliable connection. LINK

Better Deal for Auto Dealers: Labor will drive a better deal for auto dealers by levelling the playing field between the overseas multinationals that manufacture cars and the small businesses that operate car dealerships. LINK

Your Car, Your Choice: Labor will ensure car manufacturers share their technical information to ensure that vehicles can be serviced by any mechanic – restoring customer choice to car owners. LINK

Advanced Manufacturing Future Fund: Labor will establish a $1 billion advanced manufacturing future fund to provide concessional loans to manufacturers seeking to innovate, expand or diversify. LINK

 

 

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