The recent announced plans for this year’s State Budget see that businesses will be rewarded with payroll tax concessions, more money for training and a suite of more modest support measures.

Basically the Government will cut payroll tax in half for businesses with a payroll of up to $1 million, in a temporary measure for two years which will provide a maximum saving of up to $9800.

Below the table illustrates the tax concessions planned to be rolled out:

Do you have the Budget Blues?  If you need financial advice do not hesitate to get in contact with SDP, as qualified accountants and tax agents we can offer financial planning and expert advice.  Click here to contact SDP