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Labor and Coalition Clash Over Penalty Rates and Small Business Tax Plans as Campaign Intensifies

Labor vows to enshrine penalty rate protections for three million workers, while the Coalition pitches tax breaks to support 350,000 new small businesses if elected.

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Overview

  • Labor has committed to legislating protections for penalty rates in workplace awards, ensuring they cannot be reduced by the Fair Work Commission if re-elected.
  • The Coalition has unveiled a small business policy featuring an 'Entrepreneurship Accelerator' with tapered tax offsets for new businesses in their first three years.
  • The Coalition's plan also includes a $2,000 tax deduction for small businesses making technology upgrades costing $4,000 or more.
  • Labor's penalty rate protections aim to safeguard wages for around three million workers, positioning the party as a defender of fair pay during cost-of-living challenges.
  • The Coalition estimates its small business initiatives will cost $330 million over four years, with a goal of creating 350,000 new small businesses.