Backing small businesses - Albanese Government
During the recent Federal election the Albanese Government said they’d be doing the following for Australia’s Small businesses.
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Let’s hope actions speak louder than words. Australia has never had so many small business, 2.6 million at last count, and they truly are the engine room of the economy.
To help ease financial pressure on small businesses, the Government will:
- Extend Energy Bill Relief, with around one million eligible small businesses receiving rebates. Around one million eligible small businesses will receive extra rebates of $150 until the end of 2025.
- Promote prompt 20‑day payment times for contractors and subcontractors in the construction industry for work completed for Government Business Enterprises undertaking major construction activity, such as the NBN Co Ltd and Western Sydney Airport (WSA) Co Ltd.
- Support the hospitality sector and alcohol producers by pausing indexation on draught beer excise by increasing support available under the existing Excise remission scheme for manufacturers of alcoholic beverages and Wine Equalisation Tax Producer rebate, estimated to decrease receipts by $165.0 million over five years from 2024–25.
- Provide up to $18 million for Creditor Assistance Payments to support eligible South Australian and Whyalla‑based businesses affected by the Whyalla Steelworks administration.
- Invest $3.4 million over three years from 2025–26 to establish a placed‑based business coaching and mentoring program for First Nations businesswomen and entrepreneurs.
- Invest $2.9 million to help fresh produce suppliers understand and enforce their rights under the Food and Grocery Code of Conduct.