This week the State Government announced as part of their 2021/22 Financial Year Budget, extended payroll tax deductions for employers who take on new trainees and apprentices. This is a big win for skills and for businesses across South Australia further solidifying our future industries with skilled workers.
Business SA called for this to be considered in their pre budget submission and are pleased many businesses will be able to access this. Business SA also asked for support for an estimated 19,000 small businesses and not-for-profits, those businesses with a payroll of less than $1.5 million, and not entitled to this payroll tax exemption.
After 12 months of support through the COVID pandemic with schemes such as JobKeeper and many localised and targeted initiatives including emergency cash grants and payroll tax waivers, Business SA is calling on the State Government to further support sectors still impacted by COVID-19 in the next State Budget with a suite of recommendations sent to the Premier and Treasurer last week.
To stimulate the economy and continue support for impacted organisations, Business SA has recommended:
- Implementation of a funding mechanism to support South Australian SME’s through future periods of severe restrictions associated with uncontrolled COVID-19 outbreaks.
- Launch an Events, Arts & Live Performance COVID de-risk fund to encourage development across this sector, reaffirming South Australia as the Festival State.
- Extend temporary payroll tax waivers for those businesses still most acutely impacted by COVID-19 restrictions, including border closures
- Introduction of a temporary waiver on stamp duty for business insurance policies across industry sectors most constrained by ongoing social distancing rules and border closures.
- Introduction of an Autumn/Winter hospitality and recreation voucher scheme for the Adelaide CBD.
Included in their recommendations, Business SA also highlighted the opportunity for the State Government to introduce a Circular Economy Procurement Fund to drive development of markets for high value-added recycled products within South Australia.
According to Green Industries South Australia, developing the circular economy will lead to jobs creation and greenhouse gas reduction benefits. It could create an additional 25,700 full time equivalent jobs and reduce South Australia’s greenhouse emissions by 27 per cent.
This forms one of thirteen requests made by Business SA.