This proposal would support small business growth and innovation by establishing a small business incubator to provide 1,000 grants of $250,000 and 10,000 grants of $50,000–$75,000 for startups and cooperatives that enhance local economies and create jobs.

Additionally, this proposal would provide certainty for small businesses by extending the $20,000 instant asset write-off (IAWO) and the Small Business Energy Incentive Scheme to 1 July 2026.

The proposal would start on 1 July 2025.