NSW State Budget Delivers the Trifecta 12:47am 4.06.08

Payroll tax cuts, record infrastructure budget and increased funding to services is the trifecta for NSW, says Paul Ritchie of NSW Business Chamber.

The budget is providing $1.9 billion in payroll tax cuts over the next four years, and increasing the current $600,000 threshold to $623,000 from July 1, and from there it will rise with Sydney CPI.

“The decision to index the payroll threshold to Sydney CPI will ensure that the NSW payroll tax system stays competitive,” says Ritchie. “When coupled with the 30 percent reduction in workers compensation costs outlined by the government over the past two years, we are beginning to see a major improvement in the taxation burden on NSW businesses.”