Economy & Business

Small Business

Victorian small businesses already carry a heavy burden from over-regulation, high taxes, higher overheads, increasing crime, and Labor’s cost-of-living crisis. Revenue has fallen. Energy, labour, insurance, security, compliance costs and council rates have all gone up.

The Albanese Labor government then broke its commitment to leave the capital gains tax discount unchanged, in order to fund reckless, inflationary spending. Many small businesses have been left scrambling to restructure. In Victoria, setting up that new structure attracts stamp duty - thousands of dollars they cannot afford.

Small businesses employ around 40 per cent of all Victorians and generate more than $400 billion in Victoria’s economy. One Nation will get out of their way so they can focus on what they do best: create jobs and support the economy.

What we will do:

• Ensure Victorian small businesses do not pay stamp duty when setting up a new business structure forced on them by Anthony Albanese and Jim Chalmers.
• Remove stamp duty on the establishment of new business entities for a period of 12 months, to cushion the blow inflicted by Labor.
• Ease the cost and regulation-compliance burden on small business so operators can keep employing people and supporting their communities.