LNP demands six-month tax break to save jobs

Friday 13 March, 2020

The LNP is calling on the Palaszczuk Labor Government to immediately suspend payroll tax for small and medium-sized businesses in Queensland for six months.

LNP Leader Deb Frecklington said lifting the payroll tax threshold from $1.3m to $6.5m would provide instant relief for around 15,000 businesses and save jobs threatened by the economic impact of coronavirus.

“Even before the coronavirus outbreak, Queensland had the worst unemployment rate in the nation,” Ms Frecklington said.

“Queensland is more exposed to the economic impact of coronavirus than any other state.

“We cannot let a health crisis become a jobs crisis.

“I’m calling on the Palaszczuk Labor Government to inoculate Queensland jobs by supporting our vital small and medium-sized employers.

“The LNP’s plan to raise the payroll tax threshold for the next six months will help around 15,000 businesses and protect jobs across Queensland.

“The LNP backs immediate relief because Queensland can’t afford to lose any more jobs.”

Payroll tax is levied on wage bills over $1.3m and varies from 3.75% to 4.95% depending on the size and location of each business.

LNP Deputy Leader and Shadow Treasurer Tim Mander said Labor’s plan to defer payroll tax payments was totally inadequate.

“Labor’s plan to defer payroll tax payments is a cruel hoax,” Mr Mander said.

“Doubling tax bills in six months’ time will only postpone the pain for employers.

“The Commonwealth Government has provided a multi-billion dollar stimulus package and the Palaszczuk Labor Government needs to act as well.”

Mr Mander said the LNP’s proposal would cost less than 10 per cent of the $4.2 billion that the Palaszczuk Labor Government collects each year.

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