The 2020/21 State Budget has been released with measures announced that may benefit South Australian businesses.
The South Australian Government has delivered the 2020-21 State Budget to support growth and restoration of jobs and businesses as the state recovers from the COVID-19 pandemic.
Some measures that have been announced include:
- $82 million over 2020-21 for Small Business Grants (round 2), providing grants of up to $10,000 to over 18,700 small businesses and not-for-profits adversely impacted by COVID-19.
- A six month extension to the payroll tax waiver for businesses with payroll up to $4 million, and expansion of land tax reform.
- $87.9 million investment through JobTrainer, delivered in partnership with the Australian Government, to support young people and job seekers by providing access to low cost training that meets industry need.
- A 12-month payroll tax exemption for wages paid to new apprentices and trainees who begin a relevant contract or training with an employer from now until June 30 next year.
- Reduction to water and sewerage costs, with the average business saving around $1,400.
- $305 million Bushfire Response Package for to support ongoing recovery projects.
- $5 million Business Advisory Services Scheme to support small to medium enterprises to access business advice to support the development of sustainable business strategies.
- $26.9 million to establish the new Disaster Transformation and Growth Program, supporting disaster-affected small businesses through loss of income grants and recovery/remediation grants.
- $5.4 million over two years to extend the existing PDV Rebate Scheme, managed by the SA Film Corp, to include video game development.
- $13.7 million in new funding to strengthen the state’s research and innovation ecosystem, including $2.5 million to continue the GigCity program for another four years.
For the full 2020/21 Budget Overview, visit statebudget.sa.gov.au.
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