Budget tax cuts hit 20-year low
TODAY’S New South Wales budget announcement is set to include payroll tax cuts worth more than $300 million, which will allow businesses to increase their workforce.
The reduction ensures the tax rate is lower than it has been in the past 20 years.
Area manager of On-Q Human Resources Kaylene Stanford said the budget announcement was positive news for Tweed jobseekers.
“The decision to decrease the payroll tax will allow businesses to hire more staff,” Mrs Stanford said.
“Both business and potential employers in the Tweed region will benefit from this news.”
Mrs Stanford said small businesses would be the real winners across the NSW business community, with the much-needed tax cuts allowing them to increase their staff numbers.
“The tax cuts are a huge win for small business,” Mrs Stanford said.
“The budget announcement will also mean more opportunity for local job seekers to find employment because local business will be looking to hire more people in the Tweed region.
“It’s good for business to be kept in the Tweed area.”
Mrs Stanford said now there was the chance of more job opportunities and openings in the region, Tweed employment seekers need to reassess the resources available to them.
“Jobseekers definitely need to take advantage of all the resources out there; it’s always a good idea to register with employment agencies.”
Mrs Stanford said there were always employment opportunities out there for Tweed residents and that On-Q is not-for-profit resource for finding a job.
The payroll tax rate will be cut in two stages to 5.45 per cent by January 1 2011, from the current rate of 5.75 per cent.
This includes a previously announced payroll tax cut to 5.50 per cent, from 5.65 per cent that will be brought forward to July 1 this year.
NSW businesses pay $1870 in payroll tax per employee, compared to $1498 in Victoria