The State Government will provide a $128million payroll tax rebate in the 2012-13 State Budget to help small businesses.
Treasurer Christian Porter said the small business payroll tax rebate would reduce the tax burden on small businesses.
“This helps ensure Western Australia remains an attractive place to do business,” Mr Porter said.
The Treasurer said small businesses with Australia-wide group payrolls of up to $1.5million in the 2012-13 financial year would receive a full rebate of their WA payroll tax liabilities, with a maximum value of $41,250.
The rebate would gradually phase out for small businesses with payrolls between $1.5million and $3million.
Mr Porter said while the State’s economy continued to prosper, it was important to recognise the pressures small businesses faced in a competitive economy.
“The Government has made a conscious decision to assist small businesses throughout the State, as the backbone of our economy,” he said.
Finance and Small Business Minister Simon O’Brien said nearly half of taxable employers would be eligible for a rebate, with about 3,100 employers eligible for a full rebate and a further 3,600 employers eligible for a partial rebate.
“This translates to about 6,700 employers effectively not having to pay full payroll tax for about 86,000 employees in 2012-13,” Mr O’Brien said.
Fact File
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In the 2008 election, the Liberal-National Govt committed to allocating $250m in tax relief during its first term and has now delivered on this promise
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Payments of the one-off rebate will be made in first half of the 2013-14 financial year
Treasurer’s office - 6552 5600
Finance and Small Business Minister’s office - 6552 5800
