STATE BUDGET 2016/17: Backing South Australian Business
As part of the 2016/17 State Budget, the Government has announced a $109 million grant package to encourage South Australian companies to employ more staff.
For the first time, we are offering a Job Creation Grant of up to $10,000 to small and medium sized businesses liable to pay payroll tax, for each new full-time job created.
For smaller enterprises and start-ups which do not pay payroll tax, we are offering a grant of up to $4,000 over two years for each new position of 22 hours per week or more.
The grants are available to businesses with total payrolls of $5 million or less who increase their workforce between July 1, 2016 and June 30, 2018.
The new employees must be employed for at least 12 months. We estimate that these grants will be provided for 14,000 full-time equivalent positions and we hope that your business will be amongst those to take advantage of this exciting incentive.
The State Labor Government is supporting and rewarding growing businesses.
Last year, we delivered $670 million in tax reforms to SA businesses, reduced the WorkCover levy and continued to invest heavily in infrastructure.
Since then, nearly 6,000 South Australians have gained work. We want to build on that momentum.
That’s why this budget extends the small business payroll tax rebate for four years, at a cost of $40 million.
Other measures, such as the $24.8 million over five years to modernise our planning system, and $20 million over two years to increase the Economic Investment Fund, are helping us to make South Australia the best place to do business.
Small to medium sized businesses are the lifeblood of SA and under a State Labor Government will be given every opportunity to thrive.
The job creation grants are open now and you can apply at www.revenuesa.sa.gov.au/jobs