The National Retail Association has today thrown its support behind the Queensland LNP’s proposal to provide instant payroll tax relief for thousands of struggling retailers.
Earlier today the State Opposition announced a policy to immediately lift the payroll tax threshold from $1.3 million to $6.5 million for at least six months.
NRA CEO Dominique Lamb said that small and medium-sized retailers need all the support they can get to weather the current economic storm and thanked the Opposition for listening to the concerns of the sector.
“Retail is currently confronting an unprecedented set of challenges. The Coronavirus pandemic follows a summer of devastating drought and bushfires, as well as a flat economy more generally.”
“During this period of severe economic turbulence, a top priority should be keeping Queenslanders in jobs.”
Last month the NRA released a report titled a Blueprint for Retail Recovery in which they urged all state governments to adopt tax reform.
“In February, the NRA released its Blueprint for a Retail Recovery report and our very first proposal was to reform payroll tax. We’re delighted that the Opposition has listened to the concerns of the retail sector and committed to lowering the tax burden for many struggling retailers.”
“Payroll tax charges businesses for employing people, literally. With several economists warning that Australia risks heading into a recession now is the time for measures that provide effective and immediate relief to small and medium-sized businesses.”
“The NRA welcomed the announcement by the State Government last week regarding payroll tax, but we appreciate the LNP going even further and urge the Government to adopt this measure. We also call on other state jurisdictions to implement similar policy and commit to payroll tax reform.”
Read the Blueprint for Retail Recovery