SA State Budget 2013-14

The South Australian State Budget was handed down on 6th June 2013.

The most significant new tax measure for small-medium business was some welcome respite from Payroll Tax for the next two years, by way of a rebate payment for employers with payrolls under $1.2 million.

The rebate will be paid in respect of the 2012-13 and 2013-14 years, in the six months following. The effect is that employers with a taxable payroll of up to $1 million will have paid payroll tax at a rate of 2.5% rather that the statutory rate of 4.95% - almost half the amount of payroll tax over a period of 2 years. The rebate will phase out gradually for payrolls between $1 million and $1.2 million.

You can read more about the measures in Revenue SA Information Circular No. 56.

Posted: June 06, 2013 | 0 comments