The NSW 2018-19 State Budget has delivered good news for the hospitality industry, including measures to reduce payroll tax burden and improve chronic skills shortages.
Treasurer Dominic Perrottet handed down the budget this week, announcing the state’s payroll tax threshold will be increased from $750,000 to $1 million over four yeas, while 100,000 new apprenticeship places will be fully subsidised as part of a $285 million skills and training package.
Restaurant & Catering Australia (R&CA) has welcomed the initiatives, with R&CA CEO Juliana Payne commending the NSW Government’s emphasis on small businesses.
“Undeniably, two of the biggest issues affecting the sustainability and profitability of businesses in the café, restaurant and catering sector are the cost of doing business and filling vacancies amongst key hospitality occupations,” she says.
“R&CA has continually emphasised the need to reduce the burden of payroll tax and improve pathways to apprenticeships as part of its policy priorities.
“We are delighted that today the NSW Government has responded by an announcing an increase to the payroll tax threshold of $1 million and scrapping fees for eligible apprenticeships for four years.”
Payne also welcomed the government’s commitment to expanding the Easy to Do Business program, which simplifies the process of establishing a new café or restaurant business.
“The feedback received from the NSW Government’s Easy to Do Business Program has been overwhelmingly positive thus far and we are pleased to see the Government’s investment of $37 million in today’s budget to accelerate the roll-out of this initiative,” she says.
“This program ensures that prospective café and restaurant-owners can get on with the job of running their businesses and employing people rather than dealing with a mountain of red tape during the set-up process.”
Image credit: The Australian