The South Australian Government is backing businesses to drive employment growth during the current economic transition in South Australia. The Government’s new Job Accelerator Grant is now available to South Australian businesses who create and maintain new jobs.
The Government is offering eligible businesses, with taxable payrolls of $5 million or less, incentives of up to $10,000 for every extra person they employ in the next two years.
A grant of up to $4,000 is available for small businesses and start-ups not currently liable for payroll tax.
The Government has also extended the small business payroll tax concession for a further four years, providing eligible businesses with taxable payrolls of $1.2 million or less a rebate of up to $9,800 each year.
What does this mean?
This now means that a South Australian small businesses that hires two extra workers and has a taxable payroll of just under $1 million could be eligible for almost $40,000 in concessions and incentives over two years.
Over the next four years this package will provide $670 million in tax cuts to businesses in the community.
To apply for the Jobs Accelerator Grants or to get further information about scheme please visit www.revenuesa.sa.gov.au/jobs