South Australian State Budget 2016-17

South Australian State Budget 2016-17

  • Published on Wednesday 20 July, 2016
  • 1 min. read

The new 2016-17 South Australian State Budget includes support and incentives to make it easier for businesses to grow and to employ more locals.

 

The budget includes plans for the following:

Job accelerator grant scheme

Grants will be provided for SA businesses who employ new workers in new positions between 1 July 2016 and 30 June 2018.

The scheme was created to encourage SA businesses to employ additional full-time, part-time and casual employees, and retain them for at least 12 months.

The grants include up to:

  • $10,000 ($5,000 each year for two years) for each additional new worker employed by businesses with taxable payrolls below $5 million
  • $4,000 ($2,000 each year for two years) for each additional new worker employed by small businesses and start-ups

Rebates for payroll tax

The small business payroll tax rebate will be extended for another four years. Around 2,300 businesses will benefit from reduced payroll tax as the budget will provide:

  • Up to $9,800 for employers with taxable payrolls less than or equal to $1.2 million

Further support for SA businesses

The latest budget also included $1.4 million for the Office of the Industry Advocate to provide further assistance to local businesses to:

  • Improve their tendering skills for local jobs
  • Ensure local materials and goods are used on projects

A further $24.2 million will be put towards a range of initiatives to support the northern suburbs of Adelaide. These initiatives will be focused on job creation, innovation, business and industry growth, and community programs.

 

Find out more

For further information on support for SA businesses visit RevenueSA or State Budget SA.

Find an overview of the entire 2016-17 SA State Budget here.