Today in Geelong, the Shadow Minister for Employment and Workplace Relations, Brendan O’Connor, joined the Labor candidate for Corangamite, Libby Coker, at local small business Rain Tight Solutions to talk about Labor’s plan to make it easier for small businesses to create new jobs.
Too many older Australians, parents, carers and younger Australians in the electorate of Corangamite are struggling to get back into work after becoming unemployed or taking time out of the workforce.
There are parts of the electorate of Corangamite that have an unemployment rate above the national average and a youth unemployment rate more than double the national unemployment rate.
Labor won’t stand idly by while there are Australians who want to work, but can’t get a foot in the door.
Labor will make it easier for small businesses like Rain Tight Solutions to create new jobs.
Our New Jobs Tax Cut will reward small businesses that invest in jobs and do their bit to get these Australians back to into work.
Under Labor’s New Jobs Tax Cut, small businesses in Corangamite will be able to claim a tax deduction of up to $20,000 per worker to offset the wages of up to five new employees.
Businesses will be able to claim a 40 per cent deduction on top of the amount they can currently claim for their employees.
To qualify for the deduction, the employees will need to be a net addition to the company’s average full-time equivalent staffing level for the previous year.
An employer will deduct 140 per cent of the wages expenses of a new employee when doing their accounts.
Labor’s policy will be targeted to small businesses with turnover of less than $2 million which have been operating for more than two years.
Importantly, the New Jobs Tax Cut will be available to businesses hiring Australians who face real barriers to finding work, including:
Just like the previous Labor Government’s instant asset write-off, businesses will be able to claim the New Jobs Tax Cut as part of their regular tax return.
This minimises paperwork for busy employers and means they do not have to deal with yet another agency in order to help someone back into work.
Labor’s New Jobs Tax Cut represents a $257 million investment in getting Australians back to work. It will help up to 30,000 Australians find a job each year.
For three years the Abbott-Turnbull Government has failed to outline a plan for jobs in Australia.
The Liberals have not engaged with industry and have also failed to engage with industry to grow job opportunities in Corangamite.
Rather than engage in the Liberals’ race to the bottom on wages and conditions through cuts to penalty rates, Labor will invest in the high-skilled, high-wage, good jobs of the future.
The election of a Shorten Labor Government will result in a stark change in direction of the Australian Government in relation to decent, local jobs.
Australians deserve a government with the courage to put people first and it’s only Labor that will do that.
For more information on Labor’s New Jobs Tax Cut visit: www.100positivepolicies.org.au/new_jobs_tax_cut_fact_sheet