Small businesses have appeared as winners in budget of Western Australia to be handed down at present, with the government revealing a $128 million payroll tax return. Treasurer Christian Porter said that, small businesses with national group payrolls of near about $1.5 million in the year 2012/13 in financial year which would receive a full return of their Western Australia payroll tax liabilities, along with a utmost value of $41,250.
He said that, the return would slowly phase out for the small businesses along with payrolls between $1.5 million and $3 million. Mr. Porter said that, the return would cut the tax burden on the small businesses
that were the backbone of the financial system. He said that, this helps to make sure Western Australia remains a striking place to carry out business.
Simon O'Brien, Minister for Finance, Small Business and Commerce said that, almost half of taxable companies would be eligible for a repayment, with near about 3100 eligible for a full return and an additional 3600 for a partial return. Mr O'Brien said in a statement that, this translates to near about 6700 employers efficiently not having to pay complete payroll tax for near about 86,000 employees in year 2012/13.
Ben Wyatt, opposition treasury spokesperson said that, he welcomed the rebate however perspective was required. Mr Wyatt said that, relief for the small business is always welcome however it is significant to know that payroll tax of Colin Barnett take has increased by more than $1 billion as he became premier in the year 2008.
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