Queensland Deputy Premier Jackie Trad
Small Businesses Benefit From Payroll Tax Relief
Victor P Taffa
Payroll tax rebates for businesses employing apprentices and trainees will be extended in this year’s State Budget.
Deputy Premier and Treasurer Jackie Trad said next week’s Budget would see an extension of the payroll tax rebate initiative maintaining it at 50 % until 30 June 2019.
“Queensland’s payroll tax rate is already the lowest in Australia.” Deputy Premier Trad said.
“This $26 Million initiative will not only continue to provide tax relief for business it will support the employment of more than 26,000 apprentices and trainees over the coming year.”
“We know small businesses are vital to the success of the economy overall and many Queensland jobs rely on them, including apprentices and trainees looking to get a foothold in the job market.”
“Support for Queensland jobs is the Palaszczuk Government’s number one priority this underlines our commitment to small businesses giving young Queenslanders a start.” Deputy Premier Trad said.
Deputy Premier Trad said Queensland had a highly competitive payroll tax regime, with an overall payroll tax rate of 4.75% and the highest exemption threshold of any mainland state at $1.1 Million.
This year’s Budget also shows that Queensland’s overall tax environment continues to be highly competitive, with tax per capita $875 lower than the average of other jurisdictions.
“Compared to New South Wales residents, Queenslanders are expected to pay $1,282 less tax; and compared to Victorians, Queenslanders will pay $878 less in tax.” Deputy Premier Trad said.
“Through this Budget we are investing in vital infrastructure and delivering world-class services while at the same time providing tax relief for small businesses and maintaining our focus on creating Queensland jobs.”