SA Premier Jay Weatherill Wed 5.6.2013, announced that small businesses in South Australia will receive a payroll tax concession in a suite of initiatives to support small business in the 2013-14 State Budget (to be handed down on Thur 6.6.2013). Mr Weatherill said the Budget will provide for over 2 years a temporary payroll tax rate cut of up to 2.45% for taxable payrolls up to id=”mce_marker”m, with the concession phasing out for payrolls between id=”mce_marker”m and id=”mce_marker”.2m. He said the relief would be in the form of a cash grant paid upfront to eligible small businesses by RevenueSA before the end of each calendar year.
Mr Weatherill also announced the Budget will include funding for a red tape reduction taskforce to help identify opportunities to reduce government red tape for businesses.
He said the Budget will also provide a stamp duty exemption for corporations that are changing their structure.
Earlier in the week, Mr Weatherill also confirmed that the $8,500 Housing Construction Grant for people building or buying a brand new home will be extended 6 months to the end of 2013.
Source: SA Premier’s media releases, 1 and 5 June 2013
[LTN 107, 5/6/13]