By James Wallace MP
As your local Member for Hornsby, I know the importance of backing small business and keeping our economy strong. Under Labor, however, NSW has had the lowest growth rate of any state, at just 0.9%. At the same time, state taxes are up 30% in three years. When the economy slows, families pay the price, wages stagnate and businesses struggle.
I’m backing a plan to change that and believe the following steps are key:
• Tax cuts, not tax hikes: the most competitive payroll tax regime in Australia
• Backing businesses, not burdening them: less red tape, more support to grow
• Reducing insurance costs: cutting workers compensation premiums and reforms to get people back to work.
NSW Liberal Leader Kellie Sloane and I have a comprehensive plan to back jobs, grow the economy, and deliver the most competitive payroll tax regime in Australia for small and medium businesses:
• Raise the payroll tax threshold from $1.2m to $1.5m, lifting around 4,000 businesses out of the system
• Cut the rate from 5.45% to 4.75% for payrolls under $10m, the lowest of any state
• Add CPI indexation so you’re never taxed more just because of inflation
• Savings of up to $75,850 a year for eligible businesses
• Double funding for Business Connect to mentor and support local SMEs
• Lower power bills through better energy supply and security.
When businesses succeed, we are in the best position to grow wages and cut taxes to help families.
My office is always here to help your business with the day-to-day issues with government, from payroll tax and land tax to workers compensation and apprenticeships. Don’t hesitate to get in touch at [email protected]
