Payroll tax cuts have been proposed by the SA-BEST political party to ease the burden on small businesses on the Eyre Peninsula and give what it says is a much-needed boost to the economy
The proposed 50% cut in payroll taxes for businesses nationwide is the centerpiece of sweeping business tax reforms and concessions unveiled by the party and backed by Giles’ candidate and businessman Tom Antonio.
Mr Antonio, from Whyalla, said the move would boost the economy by easing the burden on small businesses – the backbone of employment in South Australia.
He said the proposed tax reforms and concessions would be a “lifeline” for hundreds of domestic businesses and keep hundreds of jobs.
“Besides payroll taxes, small regional businesses also have to deal with rising fuel prices and other activities due to their location,” he said.
“It’s a ridiculous situation that a small local regional SA company over the $1.5 million threshold and located on this side of the Victorian border is paying more than three times the payroll tax rate of a company located a few kilometers across the border.
“This makes this SA regional business anti-competitive. Our tax reform program will correct this anomaly.”
Mr Antonio said the reforms hinged on the party winning the balance of power in the Legislative Council in national elections, after which he would demand that the party that forms government engage in the overhaul of business and taxation.
The proposal follows a major report by Business SA which concluded that payroll tax is the “most burdensome tax” for companies with more than 20 employees.
Labor MP for Giles Eddie Hughes said the party was living in “never land” and unable to make any promises after the election.