Labor launches its plan for small business
Through active consultation and engagement, Labor knows there are many challenges facing established and emerging small businesses in this country, and we are committed to enabling and encouraging their success.A Shorten Labor Government would boost our vibrant small business community and diversify Australia's economy, while still investing in our world class education and strengthening quality healthcare across the country.
Under Labor, 99 per cent of businesses will receive a tax cut, no business will have their tax rate increased, and all businesses will be able to plan and invest with confidence and certainty.Labor's Australian Investment Guarantee will drive investment by allowing 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 schedules from the first year.
Labor has been leading the way on small business policy, with our Small Business Access to Justice policy passing into law in the last parliamentary sitting period. Because small businesses are less likely to seek help from our court system to stand up to big business, Small Business Access to Justice will make sure they get support to defend themselves against anti-competitive conduct.It's a policy the small business sector have wanted for a long time, but which the Coalition repeatedly voted against. Only with Labor, and the help of some renegade Nationals, did this important reform pass through the House.
Every small and medium business is unique, and the diversity of Labor's policies in support of these businesses encompasses many different portfolio areas."There are a suite of measures in this handbook which will enable small businesses in Australia to flourish under a Shorten Labor Government, including the Australian Investment Guarantee, which encourage investment and cash flow," said Mr Bowen.
"Small business is the backbone of our economy; there are nearly half a million small businesses in this state, and they employ half a million people," said Ms King."As a former small business owner, I know how important thriving small businesses are to growing our economy.
"Labor knows that when small businesses do well, the economy does well. Labor will always choose to support small businesses over the top end of town," said Ms Beazley.Labor's "Standing up for Small Business" policy handbook brings it all together.