Tasmanian businesses will benefit from a re-elected majority Liberal Government’s plan to cut payroll tax.
“This policy will encourage job creation and investment in Tasmania by introducing the most competitive payroll tax arrangement of any State for businesses with a payroll up to $4 million,” Treasurer, Peter Gutwein said.
Whilst all businesses will benefit, this will reduce tax significantly for small and medium sized businesses like S. Group.
“Under our plan, small to medium businesses with wage bills between $1.25 million and $2.0 million will see savings of up to 34% in their payroll tax liability per year. This means, under our policy, that those savings can be pumped directly back into local businesses like S. Group, who can then invest more into their own people and in turn the Tasmanian economy," Mr Gutwein said.
This policy goes hand in hand with our extended payroll tax measures to support the hiring of additional apprentices and trainees and the relocation of interstate businesses to Tasmania. This combination is expected to support around 11,000 jobs, which will directly benefit Tasmania’s regional economy.
“The Hodgman Liberal Government is building your future by bringing the budget back into balance, and it is this strong fiscal position that allows us to make our businesses more competitive so they can employ more people and better the lives of Tasmanians.”