The State’s leading business membership organisation, Business SA, said that the good news for business from the State Budget is that there are no increased or new direct taxes.
Business SA CEO, Nigel McBride, said that it was pleasing that the Treasurer had listened to business and not imposed any significant new imposts on business.
Also the previous tax concessions, such as the temporary payroll tax exemption for small business and the stamp duty concessions on apartments in the city have also been maintained.
Mr McBride said, “It is pleasing that there no new significant imposts on business as the last thing that business needs is an increase in the cost of doing business.”
“Also the Government has honoured its commitments in last year’s Budget by maintaining the payroll concessions for small business, the stamp duty concessions on off-the-plan apartments and the first home owners grant.”
“An additional concession is a housing grant for people aged over 60 years of age who want to purchase a new home to live in.”
“These concessions should assist the housing industry in particular.”
“Other positives are the commitment to infrastructure spending on projects such as the north-south corridor.”
“The promised savings from the reforms to WorkCover are $180 million, which will be a big boost for business,” he said.
“However, there is an increase in the emergency services levy which will have an impact on some businesses.”
“We also need to ensure that the rationalisation of the public sector and the removal of permanent tenure do happen.”
“In any budget, the devil is in the detail and we will be analysing the budget over the coming days,” Mr McBride said.