The Nationals WA have announced a commitment to deliver sweeping changes to the State’s payroll tax framework if elected to Government at the March 2017 State election.
The policy, launched at the Party’s Annual State Conference in Geraldton, will deliver significant payroll tax relief for businesses to encourage expansion, investment into new equipment and stimulate employment.
Deputy Leader of The Nationals WA and Member for Central Wheatbelt Mia Davies said if The Nationals WA were re-elected in 2017, the payroll tax exemption threshold would increase from $850,000 to $5 million for a period of two financial years.
“Ten thousand of the seventeen thousand WA businesses that pay payroll tax will be exempt under our plan, which equates to more than 60 per cent of businesses in Western Australia,” she said.
“Payroll tax is regularly raised as one of the biggest burdens and inhibitors to growth and development in the small and medium business sector.
“Major payroll tax reductions will make it easier for employers to invest in equipment, infrastructure, hire new workers, and the flow-on effect will be money re-injected into the local economy.”
Ms Davies said The Nationals WA also recognised that many businesses in the regions were micro-businesses, not paying payroll tax, but were struggling in the current economic climate.
“We propose to introduce a “Small Business Kick-start Grant”, which will provide $5000 per employee for non-payroll taxable small businesses that create new jobs in their business and maintain the position for one year,” she said.
“Small businesses play an important role in employing local workers and providing training and skills development.”
Member for the Agricultural Region Martin Aldridge MLC said The Nationals WA payroll tax reform agenda would be funded by revenue raised by increasing the iron ore Special Lease Rental from 25 cents per tonne to $5 per tonne.
“The small business sector has borne the brunt of significant wage costs as a result of competition with a booming mining sector, struggled to attract and retain employees and we think it’s only fair that they benefit from the new revenue stream we’re proposing,” he said.
For more information visit: www.nationalswa.com.
For media enquiries please contact Mia Davies on 08 9041 1702 (Merredin office), 08 9622 2871 (Northam office) or email email@example.com.