SDP welcome the recent NSW Budget measures, the announcement for payroll tax reforms to boost jobs and will aim to kick-start business with payroll tax relief.
South Australia State Budget 2013: Payroll tax relief for small business (Source: adapted from www.adelaidenow.au)
The recent announced plans for this year’s State Budget see that businesses will be rewarded with payroll tax concessions, more money for training and a suite of more modest support measures.
Basically the Government will cut payroll tax in half for businesses with a payroll of up to $1 million, in a temporary measure for two years which will provide a maximum saving of up to $9800.
How much of what was announced in the budget will actually become law?
Author: Raj Sesha, Tax Agent and Director SDP Solutions
Given that this is an election year with the current government’s chances of being re-elected are low, that is the question in everyone’s mind. As it was expected budget deficit, disability scheme and spend on education etc. are confirmed. I shall not go into the macro economic items, but will focus on what are the tax, super and other changes that impacts businesses and independent contractors.