How competitive is South Australia’s tax system compared with other states?
· Payroll Tax – The 2007/08 SA Budget announced payroll tax cuts. The payroll tax rate will be cut from 5.50% to 5.25% from July 2007, and then reduced further to 5.00% from July 2008. There were no payroll tax changes to rates or thresholds in the Victorian, Queensland, NSW, Tasmanian or Western Australian 2007/08 budgets. From July 2008, SA will have the equal second lowest payroll tax rate of all states.· Workers Compensation – An objective of the recently announced review into SA’s workers’ compensation scheme is to reduce the average workers compensation premium rate from 3.00% currently to between 2.25% and 2.75% from 1 July 2009.· Mortgage Duty – SA has already abolished mortgage duty for first homebuyers, for residential loans for owner occupation and on loan refinancing. Remaining mortgage duty in SA will be abolished over the next 3 years commencing with a one-third rate cut from 1 July 2007. Back to top Advanced Manufacturing Our company provides high-technology manufacturin
Payroll Tax – The 2007/08 SA Budget announced payroll tax cuts. The payroll tax rate will be cut from 5.50% to 5.25% from July 2007, and then reduced further to 5.00% from July 2008. There were no payroll tax changes to rates or thresholds in the Victorian, Queensland, NSW, Tasmanian or Western Australian 2007/08 budgets. From July 2008, SA will have the equal second lowest payroll tax rate of all states.Workers Compensation – An objective of the recently announced review into SA’s workers’ compensation scheme is to reduce the average workers compensation premium rate from 3.00% currently to between 2.25% and 2.75% from 1 July 2009.Mortgage Duty – SA has already abolished mortgage duty for first homebuyers, for residential loans for owner occupation and on loan refinancing. Remaining mortgage duty in SA will be abolished over the next 3 years commencing with a one-third rate cut from 1 July 2007. Back to top Advanced Manufacturing Our company provides high-technology manufacturing serv
