The information in this article was sourced from PVW Partners’ treasury submission.
Townsville Chamber member, PVW Partners, have released their submission to the Queensland Treasurer the Hon. Jackie Trad MP and the Office of State Revenue calling for a payroll tax reform to create opportunities to build regional Queensland.
PVW Partners believes a review of the payroll tax system is long overdue. Payroll tax reform plays a strong role in economic decision making for business owners, including (but not limited to) the decision to invest in a business activity, where they locate their operations, the size to which they aspire to grow their operations and how they resource those business activities (with the option to offshore certain functions real for many businesses).
Regionally focussed payroll tax reform also recognises the challenges of doing business in Regional Queensland. Much of regional Queensland has been impacted by natural disasters (drought, flood, fire and cyclones) and now faces increased cost pressures in the wake of those disasters.
The divide between South Eastern Queensland and Regional Queensland continues to broaden. PVW Partners believes equality should be key in policy objectives. However, currently businesses in Regional Queensland pay the same rate of payroll tax as businesses in South Eastern Queensland but do not receive or have access to the same level of infrastructure and services. Equality in this regard can be achieved via regionally focussed payroll tax reform.
To read the full submission, click here.