The Coalition has set a goal to grow the number of small businesses in Australia by 350,000 in four years, if elected. They're offering to give start-ups a boost with new tax offsets.
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00:00What's on offer from Peter Dutton and the opposition is help for small businesses.
00:06So they've set a new target today that they want to see 350,000 new small businesses open
00:13up in the first four years of a Dutton-led government.
00:17And that's net growth, so on top of any small businesses that might close in that period
00:22of time as well.
00:23And what's on offer here is tax offsets for the first three years of small businesses.
00:29So hoping to give them a leg up.
00:31The way it'll work is in the first year of operation, these businesses that meet certain
00:36criteria, for instance, their small businesses incorporated, they only have to pay tax on
00:4225% of the first $100,000 they earn and then 50% of the second $100,000 they earn.
00:49And that'll be tapered off over the first three years.
00:53The goal here, as I said, is for 350,000 new small businesses in four years.
01:00Now, the second part of this tax incentive is for tech upgrades.
01:04So if a small business spends $4,000 on things like e-commerce, digital marketing, hardware,
01:11software upgrades, then they can claim a tax deduction of $2,000.
01:15And that's not just new businesses, but all small businesses there.
01:19In Sydney this morning, guys, exactly where we're headed, couldn't tell you.
01:23My guess would probably be that we would be meeting some sort of small business owner
01:28today, very much just a guess, but just because of what we've talked through there.
01:32Look, things did ease off yesterday for Good Friday.
01:35We know there's a truce between the major parties that they do ease off campaigning on
01:40Good Friday, Easter Sunday, and part of Anzac Day, of course, coming up as well.
01:44But today there might be a bit more action because it's not technically a public holiday.
01:48So we'll keep you posted on exactly where we're headed.
01:51Bit of a guessing game still.