Updated: Another budget, another missed opportunity

South Australian Business News  •  Economy
Anthony Caldwell
Thursday, June 6th 2024

The South Australian Government has delivered a safe’ State Budget that fails to address the pressing needs of the business community, according to Andrew Kay, Chief Executive of the South Australian Business Chamber.

The Premier has described it as a budget that delivers on the government’s key priorities: cost of living, health, housing, and jobs. According to that statement, one might wonder where businesses fit in the mix?

Mr Kay expressed his disappointment in the budget, which he believes offers little tangible support amidst the ongoing cost of doing business crisis.’

This was an opportunity for the Malinauskas Government to initiate genuine payroll tax reform, given this year’s surplus and the projected surplus in the years ahead fuelled by taxation revenue,” he said.

The State Budget follows a similar delivery from the Federal Government in May. We had hoped the State Budget would provide the relief that the Federal Budget did not,” he added.

Following Monday’s Annual Wage Review, more businesses are expected to surpass the payroll tax threshold in July. We had advocated for raising the threshold at which businesses begin paying payroll tax. We expect many will face tough decisions as they endure the levy for the first time.

The South Australian Business Chamber’s advocacy is not restricted to budget submissions. We advocate on issues affecting business 52 weeks of the year and will continue to promote payroll tax reform and other key initiatives for business.

We will keep you updated as more information comes to hand. 

See all business related announcements made in the State Budget.

Author

Anthony Caldwell

Manager, Marketing, Media, Communications
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