The NSW Government has released its budget for 2001-12. Key inclusions affecting small business are outlined below.
New programs or services:
- Implementation of the Jobs Action Plan to give businesses an incentive to employ new workers and expand their operations. From 1 July 2011, businesses that increase the number of full-time equivalent (FTE) employees for a period of at least two years will receive a payroll tax rebate for each new employee in a position that is a new job. The rebate is limited to the first 100 000 new payroll tax paying jobs created in NSW.
- The new Office of the Small Business Commissioner will be established to give small businesses an independent advocate providing simple, low-cost dispute resolution services.
Changes to existing programs or services:
- Funding for NSW Business Advisory Services will be continued, with $2.5 million funding allocated.
- Continued funding of programs targeting Aboriginal business owners, young entrepreneurs and women in business, and ongoing investment in the annual Small Business September and Micro Biz Week events.
- Automatic compensation for slow payment of bills by Government agencies to small business owners.
The budget will also provide additional funding for environmental initiatives, infrastructure projects and regional tourism.
For more information on the budget announcements, visit the Budget 2011-12 website.
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