Local Member for Hastings, Neale Burgess is calling on the Andrews Labor Government to immediately implement temporary payroll tax relief to help locals get back to work and back in business.
With Victoria losing more jobs than any other state in response to the COVID-19 pandemic, the Liberal Nationals are proposing urgent action by the Victorian Government to save Victorian jobs.
With restrictions now easing, now is the time for the Andrews Labor Government take up the Liberal Nationals’ ideas to protect Victoria’s jobs and businesses in Hastings Electorate.
The Liberal Nationals call would see the Andrews Labor Government waive payroll tax for all businesses across the Hastings Electorate on the first $10 million of annual payroll to 30 June 2021, helping kick start local economies.
This would deliver a payroll tax saving of up to $485,000 for businesses in 2020-21 – just the incentive a business needs to help get Victorians back to work. For larger businesses, payroll tax would be payable on each dollar of payroll paid in excess of $10 million.
The Andrews Labor Government’s temporary assistance in raising the payroll tax threshold to $3 million ends on 30 June 2020.
After 30 June 2020, the only commitment that has been made by the Andrews Labor Government is to allow businesses to defer paying payroll tax during the first quarter of 2020-21 (Jul-Sep). Any business in Hastings Electorate that chooses to take up this deferral option will still be liable to pay any amount deferred payroll back to government, in full, at a later date.
The fallout from COVID-19 restrictions has been tough on our local economy, with more job losses and business closures forecast across Victoria.
Rebuilding our local economies is paramount to get Victoria back to work and back in business. Businesses are the real drivers of our economy, not governments.
Comments attributable to Neale Burgess MP
“Payroll tax is a tax on jobs and is a disincentive for business to hire. Reducing this tax on all businesses during the recovery phase will allow businesses to survive and get more Victorians back to work.
“Only when small and medium businesses are back in business, creating more jobs for Victorians, will our state’s economy be headed in the right direction.”