Small retailers in Australia looking to increase their retail staff and grow their businesses may be interest to hear about changes that will support them and help to boost job creation.
The New South Wales state government released its budget for 2013-14 earlier this month, which included an increase to the payroll tax threshold.
Once implemented on July 1, the changes will boost the payroll tax threshold from $689,000 to $750,000 while removing indexation.
The changes to payroll tax will mean that many small businesses that paid this tax during 2013-14 may not have to during the next tax year, and it may encourage businesses to hire more people.
This will help to stimulate growth in the industry, and provide further jobs for residents in the state of New South Wales.
Hiring more staff can also help to gradually expand the company, and align its results with those outlined in the retailer’s retail strategy.
According to state premier Barry O’Farrell, retailing in Australia hosts a number of employment opportunities for people across the nation, with a large number of them located in the state of NSW.
Also announced in the budget were changes to those who employ additional workers for new jobs. The payroll tax rebate for businesses that do this will increase by 25 per cent from $4,000 to $5,000.
“Any time we can see the removal of a penalty on the ability of small business to hire an extra person is a good thing,” said state treasurer Mike Baird in a June 20 press release.
“Any steps the NSW government takes to reduce this burden on business is a positive outcome for businesses thinking about creating a new job.”
Retailers that wish to take advantage of what the state budget has to offer may want to consider reviewing their retail strategy in order to accommodate the changes that have been made.