Business SA says the 2020-21 South Australia Budget makes a lot of good sense and will be welcomed by the wider business community with the Government delivering on Business SA’s key push for payroll tax cuts.
Business SA CEO Martin Haese said overall it was a business-friendly State budget however, those in the hardest hit sectors from COVID-19 would need further financial support as restrictions continue.
“Business SA commends the State Government on a business-friendly budget,” said Mr Haese.
“We warmly welcome the second round of the $10,000 emergency cash grants for businesses still impacted by COVID-19 plus the addition of $3,000 grants for sole traders and partnerships who operate from a commercial premise.
“These are outcomes that Business SA has advocated strongly for after sole traders and partnerships fell through the gap in the first round of emergency cash grants.”
The independent peak business body for business praised an extensive $233m payroll tax program that includes a 12-month payroll tax waiver for companies that put on a new trainee or apprentice.
“This is a great move by the Government and again something Business SA advocated for on behalf of the business community,” said Mr Haese.
“This is an important incentive for businesses and will help create new jobs.
“Business SA also welcomes payroll tax waivers for businesses with wages under $4m until 30 June 2021, effectively delivering a 15-month tax cut which will no doubt help the hip pocket of thousands of small businesses.
“Large businesses with a payroll greater than $4m and still receiving JobKeeper from 4 January 2021 will now get a six-month waiver, after having previously received a deferral only.
“These measures, combined with JobKeeper, will help ease some of the pain for businesses in the hardest hit sectors of tourism, events and the arts.
“However, Business SA says that more financial support will be needed for acutely impacted businesses in the tourism, events and arts sectors whose revenue remains impacted for as long as restrictions stay in place.”
Business SA also welcomed the Budget’s $16.7 billion infrastructure program, highlighted by the expected completion of the North-South corridor by 2030 and an extra $25m boost for sealing the Strzelecki Track.
“Providing certainty on the completion date for the North-South Corridor is critical for business and Business SA welcomes this $8.9 billion project,” said Mr Haese.
In addition to more support for the hardest hit sectors, Business SA said it would have liked to see dedicated funding for a new, major City-based event to help struggling City businesses.
To arrange an interview please contact Lisa Andrews on 0401 579 963.
10 November 2020