GOLD Coast businesses with an annual payroll tax liability of less than $20,000 will now only need to lodge payroll tax returns just twice a year, instead of every month.
Treasurer Tim Nicholls said from next year small and medium businesses will save time and money and be able to get on growing their businesses.
“This simple change will save business a total of around 40,000 hours of time spent on paperwork and around $2 million in administration costs,” he said.
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“We are determined to create an environment for business success and concentrating on getting government ‘out of the way’, so business owners can get on with running their enterprise.”
Chamber of Commerce and Industry Queensland (CCIQ) general manager Nick Behrens said red tape was one of the most significant issues for Queensland businesses.
“This change in payroll tax requirements means thousands of small and medium Queensland businesses – many owned and built from the ground up – will save hours of administration and resourcing,” Mr Behrens said.
Owner of Queensland Sheet Metal Lynette Jones said the change would help her family business.
“Cutting down red tape and a reduction in paperwork is always a good thing; this will leave more time for growing our business,” Mrs Jones said.