Small Business

What We're Doing

The Albanese Government is committed to supporting small businesses. The 2023-24 budget includes a range of measures to do this.

Increase in the small business asset write-off

Commencing on the 1st of July 2023 and lasting until the 30th of June 2024, small businesses with an aggregated turnover of less than $10 million will be able to immediately deduct the full cost of eligible assets costing less than $20,000.

Help with energy efficiency

We’re introducing a bonus 20% tax break to help small businesses invest in assets that will reduce energy costs. These include electrifying heating and cooling systems, upgrading to more efficient appliances, and installing batteries. The Energy Efficiency Grant Program will also provide $16 million to help small and medium businesses become more energy efficient, delivering grants of up to $25,000 so that businesses can make every watt count.

Energy bill relief

At the centre of our Energy Price Relief Plan is a commitment to establishing the Energy Bill Relief Fund to provide up to $3 billion in electricity bill relief to eligible small businesses and households in partnership with the states and territories. Eligible businesses in Victoria will receive $325 of bill relief.

NewAccess Program

The program has $15.1 million to provide free mental health and financial support counselling services for small businesses. This includes a free, confidential one-on-one mental health coaching program delivered by Beyond Blue. Small business owners can receive up to 6 sessions via telehealth with a trained mental health coach who has a small business background.

More tax deductions

The Skills and Training Boost will mean small business can receive a 20% tax deduction for staff training. The Technology Investment Boost will mean small business can receive a 20% tax deduction for digital technology uptake.

Visa reform and skills shortages

We’re tackling migration reform to get the workers we need into the country. We are increasing the Migration Program from 160,000 to 195,000 places. We are fast tracking the delivering of 456,000 new fee-free TAFE places. Contact my office for help with visa applications.

Better complaints management

Currently there is no formal mechanism for consumer or small business advocacy groups to lodge complaints, to which the ACCC is obligated to respond. We are introducing a Designated complaints function which will allow consumer and small business advocacy groups to submit a complaint where there is strong evidence of systemic issues under the consumer law.

Protection from cyber threats

We are introducing practical measures to guard small businesses against cyber threats through a $23.4 million program to help businesses train in-house cyber wardens.

Digital Solutions

Under our Digital Solutions Program, small businesses are able to access up to four hours of one-on-one digital advice from a qualified and experienced business advisor for a small fee. They can also access free workshops, webinar presentations and self-directed tutorials on a range of subjects. This program strives to guide small businesses towards digital adoption, which we know is a key to a stronger, more productive and resilient economy.

The Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 

The Albanese Labor Government is supporting Australian workers by closing loopholes that undercut pay and conditions. 

The four major elements of the Closing Loopholes Bill are: 

  • Criminalising wage theft 
  • Introducing minimum standards for workers in the gig economy 
  • Closing the forced permanent casual worker loophole 
  • Closing the labour hire loophole 

In order to support small business, however, the Government will include the following exemptions: 

  • Exempting small business employers that use labour hire from pay obligations under the ‘Closing the labour hire loophole’ measure 
  • A longer 12-month service period for casual employees of small businesses to access the new voluntary casual employee choice definition pathway to change to permanent 
  • Development of a Voluntary Small Business Wage Compliance Code to provide certainty for those who inadvertently commit wage underpayments, ensuring only intentional wage theft is punished 
  • Small businesses not being required to provide access to paid time for workplace delegate training