Payroll tax threshold to increase, welcomed by NSW Business Chambers

Chambers pleased: NSW Business Chamber Regional Manager Vicki Seccombe says budget delivers on payroll tax threshold and up-skilling workforce. Photo: Contributed.
Chambers pleased: NSW Business Chamber Regional Manager Vicki Seccombe says budget delivers on payroll tax threshold and up-skilling workforce. Photo: Contributed.

The Western NSW Business Chamber is “pleased the government had listened to the needs of small businesses” when it handed down the 2018-2019 NSW Budget. 

 Ahead of the budget the chamber had strongly advocated for an increase to the payroll tax threshold and the budget confirmed the threshold would be lifted from $750 000 to $1 million over a number of years, starting with an increase from $750,000 to $850,000 during the next financial year. 

“Regional NSW accounts for a higher relative share of small and medium enterprises therefore this measure will provide more relief for a many of our businesses in Western NSW,” Western NSW Business Chamber regional manager Vicki Seccombe said. 

Leading up to the budget, Ms Seccombe said the focus should be small business, investing in training a skilled workforce and fast-tracking the delivery of infrastructure in Western NSW.   

The business chamber were happy with the announcement 100,000 apprenticeships through TAFE NSW would be free, saving students approximately $2000 per course. 

Currently there are approximately 80,000 apprentices in NSW, the budget allocation aims to increase that number to address the current shortage and improve businesses ability to attract and retain skilled staff. 

The move, along with the mandate that government infrastructure workforces will include at least 20% apprentices will “close the gap on the skills shortage” Ms Seccombe said. 

“More than $35 million has been set aside to extend the Easy to Do Business program, a concept enthusiastically championed by the NSW Business Chamber during its trial stages when it assisted restaurants and cafes – its extension to the housing construction sector will make it easier for new players to set up operations.”

The NSW Berejiklian Government “peoples budget” for 2018-19 was announced on Tuesday. 

Nine months out from the NSW election, the NSW Treasurer Dominic Perrottet handed down the budget, promising it was, “building for tomorrow and delivering for today”.