The NSW Liberals have slammed Labor after secret government documents revealed a hidden tax grab that’s hurting local businesses.
Shadow Minister for Jobs, Industry, Innovation, Science and Technology Mark Coure said the NSW Government is pocketing billions in extra revenue through bracket creep, quietly pulling more from businesses while hoping it goes unnoticed.
“Payroll tax thresholds have been frozen since Labor came to power. When the Liberals were in government, we lifted the payroll tax threshold time and again to give small
businesses breathing room. Labor has done the opposite.”
“Under Labor, this now means 1,200 more businesses across NSW are dragged into payroll tax every year, punished for hiring more people and paying better wages. Treasury forecasts show bracket creep will gouge an extra $500 million from employers over the next four years.”
“Labor shouldn’t be rewarded for their sneaky attack on business, particularly in regions where small businesses are the engine room of the local economy and play such an important role in providing jobs.”
Liberal for Kiama, Serena Copley, who works alongside unemployed youth to help them into jobs said this is the latest attack on business from Labor.
“For years I’ve worked with local businesses to identify job opportunities for young unemployed people. Most business owners would do anything to create new opportunities, but often can’t because of higher costs, the burden of tax and dishonest moves like freezing payroll tax thresholds.”
“Local businesses deserve better, job seekers deserve better, and our community deserves better from this government. That’s why I welcomed Mark Coure here today to hear first-hand about the challenges of doing business under this NSW Labor Government.”
“I’ll fight every day for our region’s businesses, who play such a vital role in driving our economy and providing opportunities for locals.”
