Dutton’s generous tax plan for small business revealed as Albanese defends weekend workers

Peter Dutton has announced a new tiered tax offset system under a generous Coalition policy to help Aussie small business owners. Here’s what he is proposing.

New small businesses will pay tax on just a quarter of their first $100,000 and half of the second $100,000 in a generous Coalition policy that will underpin an ambitious target of 350,000 new businesses.

Building on a raft of tax handouts announced in recent weeks, Peter Dutton has promised a new tiered tax offset system for small businesses with a turnover of less than $10m.

In the first year after registration, a business owner will not pay any tax on 75 per cent of the first $100,000 made and 50 per cent off the second $100,000.

Peter Dutton says small businesses will pay tax on just a quarter of their first $100,000 and half of the second $100,000. Picture: Richard Dobson / Newswire

In the second year, that turns to 60 per cent of the first $100,000 tax-free and 40 per cent of the second $100,000.

In the third and final year of the scheme, 50 per cent of the first $100,000 and 30 per cent of the second $100,000 are tax free.

Their poll pitch to small businesses will also include a $2000 tax deduction for tech upgrades of more than $4000 and a pledge to oversee the creation of 350,000 new small businesses over the next four year.

Anthony Albanese spent his Good Friday strolling in Lane Cove West with Bennelong MP Jerome Laxale and their respective dogs Toto and Toby and their partners

Mr Albanese met other families walking their dogs, and shared his confidence that the Rabbitohs would win their game on Friday.

“Souths are going to win, the Easter bunnies,” he said.

Peter Dutton speaks to the crowd during a visit to the annual Australian Sikh Games at Bass Hill in the electorate of Watson in Sydney.Picture: Richard Dobson / NewsWire

Labor also pledged to protest penalty rates for three million award workers with new legislation to be introduced if they return to government.

Meanwhile Mr Dutton started the day alongside Scott Morrison at the country’s largest Good Friday gathering.

It comes as his electorate office in Brisbane was vandalised for the second time with the words “maggot” and “scum”.

Mr Dutton and wife Kirilly sat in the front row of the hour and a half service at St. Charbel’s Maronite Catholic Parish in Punchbowl before heading to the Australian Sikh Games.

“This Easter, people are coming together to celebrate, and whether your (of) Christian belief or not, it’s a time for families to come together and to celebrate who we are as a country,” Mr Dutton said in a brief Easter message.

Originally published as Dutton’s generous tax plan for small business revealed as Albanese defends weekend workers