By Stephen Linnell
WYNDHAM’S small business sector has welcomed the reductions in WorkCover premiums and payroll tax announced in last week’s State Budget.
The State Government moved to reduce payroll tax to 4.95 per cent – the lowest it has been in 34 years.
WorkCover premiums were cut for the fifth year in a row to 1.387 per cent of an employer’s payroll – the second lowest in Australia.
“Any relief is good relief,” Wyndham small businessman Steve Goss told Star.
Mr Goss said the budget also brought relief for young families through reductions in stamp duty and improved maternal health services, which were good signs for local residents.
“There was a lot of support there for young families and babies.
“There was some small relief in there in relation to the taxes for small business.
“Certainty is what allows you to move forward,” he said.
“There’s always an element of nervousness before a budget, but now that it’s out it allows us to settle down and know where we’re at.
“We’ve got the Federal Budget coming up, of course, and who knows what that will bring, but I think it has sat pretty well for small business operators.”
The president of the Wyndham Chamber of Commerce, Brett Nichol, said there were a number of positive aspects to the budget for small business.
“I’d say it’s helpful,” he said. “Any reduction a business can get is very handy.”
Mr Nichol said cost pressures associated with WorkCover premiums, payroll tax and interest rates all had an impact on a small business.
“A lot of hard work goes into these businesses just to remain at current levels.”
But Mr Nichol said there was a continuing need for Wyndham small businesses to remain optimistic.
Handing down the budget, State Treasurer John Lenders said: “The Brumby Labor Government is committed to providing the most competitive business environment possible in Victoria to boost investment and drive jobs.”
He said the good news for business would continue throughout the year with the launch of three new government strategies – for industry, skills and innovation – to drive growth, jobs and investment in Victoria and boost the productive capacity of the economy.
In particular, the future growth of Victoria’s manufacturing industry – a large component of Wyndham’s economy – was vital to the continued wellbeing of the state, he said.
