Business EnvironmentChamber Updates

State of Origin is one all, but are we winning off the field?

12 November, 2020, Posted By tvlchamber

STATE OF ORIGIN IS ONE ALL BUT ARE WE WINNING  OFF THE FIELD?

The origin series is one all but did you know that the NSW Premier Gladys Berejiklian, has announced payroll tax cuts, that gives the NSW economy a competitive advantage over Queensland.  The ramifications will be felt for years to come as businesses are lured out of Queensland with the promise of a payroll tax freeze if they hire 30 or more staff.

Payroll tax is a disincentive for businesses to grow, and in a time where we need businesses to expand and hire more people, we should be encouraging growth not discouraging it.

We raised the issue of payroll tax being a disincentive with the Queensland Treasurer, Cameron Dick, back in June and with the state budget proposed to be handed down in the first week of December, payroll in the regions must be on the agenda.  We will continue to advocate for payroll tax in the regions to be abolished and in turn, create our own incentives for regional Queensland businesses to grow, and for businesses based in other states to move here.

Yesterday was remembrance day and interestingly payroll tax was introduced by the federal government during World War II it was designed to allow for a child endowment scheme, which would provide an allowance for supporting parents or guardians with children under 16 years of age.  While at the time there was a requirement and need, as with all taxes we have seen payroll tax morph into one that discourages growth when we need it most.

Are we brave enough in Queensland to face NSW off the field, beat them at their own game and gain a competitive advantage over the rest of Australia?

Over the next few weeks, we will look at examples of how payroll tax inhibits growth and how other states are using payroll to their advantage.

Let’s not get left behind in regional Queensland. Let’s not lose to NSW on or off the field!

~ Ross

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