After a significant amount of advocacy by members and the MTA, Tuesday’s State Budget appears to address some of the concerns of Rental Division members.
The Budget Papers have highlighted the following:
- Payroll tax-free threshold will start at $600,000 for business with payrolls between $1.5 million and $1.7 million
- Land Tax Relief with the tax-free threshold increasing from $369,000 to $450,000 from 1 July 2020 and a lower marginal tax rate, dropping from 3.7% to 2.9%
- A 12 month trial to fast-track drivers licences for 1st and 2nd year apprentices
- A dedicated program to improve literacy and numeracy in schools
While these are positive first steps, we will continue to monitor the impact of these changes. We will also be seeking clarity from members and government on areas of concern and will keep members informed.
If you would like to discuss any aspect of the State Budget or express a view on areas of concern please contact Nathan Robinson by clicking here.