Payroll tax rebate doubled for Queensland businesses employing apprentices, trainees

Queensland businesses that employ apprentices and trainees during the 2016-17 financial year will have their payroll tax rebate doubled from 25 per cent to 50 per cent.

Premier Annastacia Palaszczuk has told a budget estimates hearing the extra incentive would be available for 12 months backdated to July 1.

The rebate applies to businesses with an annual wage bill of more than $1.1 million, with no payroll tax payable below that threshold.

More than 2,400 businesses claimed the 25 per cent rebate last financial year at a value of more than $7 million.

The Government estimates that doubling the incentive would equate to about $1,000 a year for each apprentice or trainee.

"By doubling the rebate my Government is making it even more attractive for employers to hire and keep apprentices and trainees and grow their businesses," Ms Palaszczuk said.

"While apprentice and trainee wages are generally exempt from payroll tax, employers can claim the rebate based on the total exempt wages bill of any new apprentices or trainees they employ."

Source: ABC News

Leave a Reply

Your email address will not be published. Required fields are marked *