Western Australia's Treasurer Troy Buswell has announced that the local government is to implement a 12-month rebate scheme for the payroll tax of the region's small businesses.
The measure has been designed to stimulate the economy and save jobs during the current recession, with around 6,700 businesses expected to qualify for full or partial rebates on their 2009-10 payroll tax costs.
Under the regime, businesses with a maximum payroll of AUD1.6m (USD1.2m) will be awarded a full rebate next year, with those whose payroll lies between AUD1.6m (USD1.2m) and AUD3.2m (USD2.4m) gaining a partial rebate.
The initiative is part of the Western Australian government's AUD155m (AUD116m) "jobs protection package," and will be complemented by further measures such as a refund compensation scheme for trainees and payroll tax exemptions for employees on parental leave.
At 5.5%, Western Australian payroll tax is one of the highest in Australia.
The measure is expected to cost the local government around AUD100m (USD74m).
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment