The Qld Budget 2013-14 was handed down Tue 4.6.2013. Revenue measures announced included:
- the second payroll tax threshold increase from id=”mce_marker”.1m to id=”mce_marker”.2m will be deferred 2 years to now take effect from 1 July 2015 rather than 1 July 2013. (During the 2012 Qld election, a commitment was made to increase the payroll tax threshold from id=”mce_marker”m to id=”mce_marker”.6m in increments of id=”mce_marker”00,000pa between 1 July 2012 and 1 July 2017.);
- from 1 August 2013, the rate of duty applicable to insurance premiums for Class 1 and Class 2 general insurance products will increase to 9%. The new rates will apply to premiums paid on or after 1 August 2013, for policies entered into on or after that date. There will be no changes to the duty payable on Workers Compensation or Compulsory Third Party (CTP) premiums;
- from 1 January 2014, the Urban Fire Levy will be known as the Emergency Management, Fire and Rescue Levy and will be applied to all rateable properties. The rate of the levy will also increase by 6.5%. Local governments affected for the first time will be provided with transitional assistance.
[LTN 106, 4/6/13]