KYNETON ADVENTURE CAMP REAPS REWARDS OF PAYROLL TAX CUTS
PGL Campaspe Downs Adventure Camp has taken full advantage of the state government’s payroll tax cuts, using the money saved to help invest a further $120,000 in building improvements at the Kyneton camp.
Mary-Anne Thomas today toured the PGL Adventure Camp in Kyneton, meeting with staff and getting a first-hand look at the facilities, while children enjoyed the camp’s holiday program.
The Victoria-based outdoor education provider established its Head Office at Campaspe Downs near Kyneton in 2014, now employing over 100 staff members state-wide.
Over the next five years, PGL has committed $5 million in capital investments in regional Victoria, supporting local businesses by buying local produce and contracting local tradespeople.
The Andrews Labor Government is supporting regional Victoria through the $500 million Regional Jobs and Infrastructure Fund and initiatives like the reduction of payroll tax for regionally-based businesses.
34 businesses in the Macedon Ranges and 14 businesses in the Hepburn Shire paid less tax in 2017 thanks to the Andrews Labor Government’s payroll tax cuts. The rate was cut from 4.85% to 3.65% and the payroll tax-free threshold increased from $575,000 to $600,000 in July last year.
The payroll tax-free threshold will increase to $625,000 from 1 July 2018 and $650,000 from 1 July 2019, providing further savings for tens of thousands of Victorian businesses.
As a result of the tax cuts, regional Victoria now has one of the most competitive payroll tax rates in Australia. This has proven to be a massive boost for regional businesses looking to expand their operations, and yet another huge boost for jobs in regional Victoria.
Since being elected, Labor has created 52,700 regional jobs, 39,800 of which are full time.
Youth unemployment has fallen substantially in regional Victoria, down from 15.8% in November 2014 to 9.3% in January this year.
There are also a number of other changes that are benefiting regional businesses, such as allowing up to 9,700 additional small businesses to opt for an annual payroll tax payment instead of monthly payments. Extending the annual payment threshold from $10,000 to $40,000 cuts red tape and increases cash flow flexibility.
Quotes attributable to Mary-Anne Thomas
“Our reduction of the payroll tax rate has allowed 48 local businesses to expand their operations and take on new employees.”
“The PGL Campaspe Downs Adventure Camp has benefited from these cuts, using money saved to invest in facilities and staff to provide fantastic outdoor education experiences for young people locally.”