Double the incentive for Queensland employers
- Published on Wednesday 20 July, 2016
- 1 min. read
The Queensland State Government has announced it is doubling one of its incentives for Queensland businesses that employ apprentices and trainees.
The previous 25% payroll tax rebate for employers who take on apprentices or trainees has been doubled to 50%. This higher incentive will be available until 30 June 2017 and has been backdated to 1 July 2016.
Both the tax incentive and the recently announced Back to Work package were created to boost local jobs, particularly in regional Queensland. Queensland Premier Annastacia Palaszczuk believes doubling the tax rebate will benefit employers greatly.
“Increasing the rebate to 50% doubles the benefit to employers, equating to around $500 to $1,000 per year per apprentice or trainee which again is money that is able to be reinvested into a business,” she stated.
While apprentice and trainee wages are generally exempt from payroll tax, employers can claim the rebate based on the total exempt wages bill of any new apprentices or trainees they employ.
To find out more about the payroll tax rebate call QLD Treasury on 1300 300 734 or visit the Back to Work website.