MINISTER REMINDS DROUGHT-AFFECTED BUSINESSES TO APPLY FOR PAYROLL TAX RELIEF
NSW State Plan Priority P6: Increased business investment in rural and regional NSW
NSW Minister for Regional Development, Phillip Costa today reminded businesses in drought-affected areas that they can apply for payroll tax relief under the Government's Business Drought Assistance Program.
"The NSW Government understands that the ongoing drought is not only hurting our farmers, but is also hurting the businesses that service our farming communities," Mr Costa said.
"In 2002 we established the Business Drought Assistance Program to help regional businesses retain skilled workers for the duration of the drought.
"To date the Program has helped retain over 3,000 regional jobs.
"With over 70 per cent of the State still drought-declared, I am today reminding eligible businesses to seek support this financial year."
The Minister explained that the Program works by providing payroll tax relief to eligible businesses, who are reimbursed by the Government for payroll tax they have paid, or their payroll tax is deferred and the Government makes payment directly to the Office of State Revenue.
Payroll tax relief is available to businesses in drought-affected areas with up to 200 employees that are involved predominantly in the production and sale of farm machinery and supplies, including transport, and machinery sales and service, or those dependent on farm produce as their main business input.
Mr Costa said support is also available under the small business drought assistance component of the program for regional companies to implement business improvement or recovery strategies or diversify their operations.
"This support is available to help all businesses in drought-affected towns of less than 15,000 people, as well as those companies that service or draw supplies from farmers in towns of more than 15,000 people," he said.
"Further assistance for businesses in the bush may also be available under the Government's regional investment, industry restructuring and business growth programs," Mr Costa said.
The Business Drought Assistance Program is administered by the Department of State and Regional Development. For more information on this and other regional development programs, visit www.business.nsw.gov.au/region/drought
