New Jobs Tax Cut

Under Labor’s New Jobs Tax Cut, small businesses 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.

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

This represents a $257 million investment in getting older Australians, parents, carers and younger Australians back to work. It will help up to 30,000 Australians find a job each year.

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.

Read the fact sheet for more information on Labor’s New Jobs Tax Cut here.