20 July, 2019 –
Over the next four years, the Palaszczuk Government is providing almost $900 million of targeted payroll tax initiatives to help small and medium businesses to grow and create jobs.
From July 2019, the tax-free threshold for businesses having to pay payroll tax will increase from $1.1 million to $1.3 million – this means 1,500 additional businesses will no longer pay any payroll tax.
Queensland’s new tax-free threshold for business is almost double Victoria’s.
There’s also tax rebates of up to $20,000 for employers who increase total employees each year, and we’re continuing the 50% payroll tax rebate for businesses that employ apprentices and trainees.
These new initiatives will deliver lower taxes for 13,200 small and medium businesses, and new incentives for all businesses to hire more Queenslanders.
If 1 in 5 small businesses employ one more person, there will be more than 80,000 new jobs.