Business & Employment

"When you stand with small business, you are backing the lifeblood of millions of Australian families right around the country, in every community and in every electorate, in our regions and our cities."

Malcolm Turnbull
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Small Business

Small businesses are the engine room of the Australian economy, making up 99 per cent of all businesses, and contributing $380 billion to the economy. A strong small business sector means more jobs for Australians and more opportunities to build vibrant local communities. The Turnbull Government has cut the small business tax rate to its lowest level in 50 years, enabling businesses to invest more, employ more and pay better wages.

The Government is backing small business by extending the instant asset write-off scheme, rewarding states that cut small business red tape, creating a single, industry-based one-stop shop to give small business access to a free, fast and binding dispute resolution service, and making it easier for startups to access the funding they need to grow through measures under the National Innovation and Science Agenda

Employment

403,100 jobs created in Australia in 2017

The Turnbull Government is generating jobs and opportunities for Australians. Our policies are enabling Australians to do their best. Whether it is getting a job or starting a business, we want all Australians to be able to pursue and realise their dreams.

Joblessness entrenches poverty and inequality. One of the greatest challenges facing successive governments is the number of jobless families in Australia, and the impact of intergenerational joblessness. Every element of our economic policy is directed towards getting more people into jobs. The Government is breaking down barriers to employment with policies that support those most in need, while maximising people’s ability to support themselves and carve out their own future.

We are encouraging Australians off welfare and into the workforce by strengthening participation requirements, and better targeting Government support so that jobseekers have the best possible chance of finding a job.

We are investing $263 million to expand the ParentsNext program, which supports young parents to plan and prepare for employment.

And we are investing $840 million in a Youth Employment Package to increase the employability of vulnerable young people. We are delivering on our commitment to help up to 120,000 young Australians get into work. The Youth Jobs PaTH program assists young Australians to get a job by providing them with practical pre-employment training, and with real work experience through internships. Businesses are being encouraged to hire young job seekers through wage subsidies.

Our policies are not just breaking down barriers to work, they are also supporting employers to create more jobs. We are reducing taxes on business to keep Australia competitive.

The Government is ensuring Australians are prioritised for Australian jobs through the abolition of the 457 visa and the creation of a new Temporary Skill Shortage visa, underpinned by more stringent skills occupation lists. It is important that businesses still get access to the skills they need to grow and invest, so the 457 visa will be replaced by a new temporary visa, specifically designed to recruit the best and brightest in the national interest. There will be new requirements, including previous work experience, better English language proficiency and labour market testing.

And alongside the new visa programs, the $1.5 billion Skilling Australians Fund will support young Australians to develop skills in priority areas through apprenticeships and traineeships. The fund will help turn our skills gap into job opportunities for Australians. Once matched with State and Territory funding, the fund will support up to 300,000 apprentices, trainees, pre-apprentices and higher level skilled Australians.

These changes will give Australian job seekers the skills they need to find work, while ensuring Australia can attract the best and brightest from around the world.

Under the Turnbull Government

Extension of the Instant Asset Write Off scheme for small businesses
Reforming the 457 Visa
Tax Cuts
For 3.2 million Small Businesses

Responsible Ministers

The Hon Scott Morrison MP
Treasurer
Senator the Hon Michaelia Cash
Minister for Jobs and Innovation