An exodus of businesses from NSW to other Australian states has again highlighted the need for important reforms to payroll tax proposed by the NSW Liberals and Nationals.
Analysis of Bureau of Statistics data by Business NSW has found NSW lost more than 3,000 businesses in the last three years, attributed to high operational costs and tax settings.
Queensland welcomed more than 4,000 businesses in the same period.
Under changes announced by the NSW Opposition, a Sloane Liberal and Nationals Government will create the most competitive payroll tax regime in Australia by:<\/p>\n\n\n\n
These reforms will remove around 4,000 businesses from the payroll tax system altogether and ensure a further 25,000 businesses receive the lowest payroll tax rate of any Australian state.
Industry groups including Business NSW, the Pharmacy Guild, the Housing Industry Association, Australian Industry Group and Motor Trades Association of Australia have applauded the proposed reform.
Opposition Leader Kellie Sloane said another 6,200 businesses permanently closed their doors last year alone and NSW had gone from top to bottom of all states on economic output.
\u201cBusinesses are voting with their feet because NSW has become too expensive to invest, employ and grow,\u201d Ms Sloane said.
“NSW needs tax settings that reward growth, investment and job creation, which is exactly what our payroll tax reforms are designed to deliver.\u201d
NSW Nationals Leader and Shadow Minister for Small Business Gurmesh Singh said businesses should be rewarded for hiring and encouraged to expand.
\u201cWhen businesses are leaving the state in record numbers, that’s not just a statistic, it’s a warning that NSW needs reforms and businesses need us to back them.\u201d
“Businesses are leaving, confidence is at record lows and Labor still has no plan to make NSW competitive again, but the NSW Liberals and Nationals do.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
An exodus of businesses from NSW to other Australian states has again highlighted the need for important reforms to payroll tax proposed by the NSW Liberals and Nationals. Analysis of Bureau of Statistics data by Business NSW has found NSW lost more than 3,000 businesses in the last three years, attributed to high operational costs and … Continue reading “Businesses leaving NSW for Queensland”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-39846","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=39846"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39846\/revisions"}],"predecessor-version":[{"id":39847,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39846\/revisions\/39847"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=39846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=39846"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=39846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}