ACT Shadow Treasurer, Brendan Smyth today tabled a Bill to fix the ACT’s Payroll Tax scheme—bringing its operation into greater harmony with other jurisdictions.
“This was something that the Government had promised as far back as 2008 through legislative changes. However, over 4 years later, we are still out of step with other states.
“Currently, provisions in the legislation on such issues as joint and several liabilities expose businesses to tax liabilities that they may not be aware of and unexpected litigation.
“The implications of these issues are impediments to allowing businesses to thrive and grow in the ACT. It is hard to have confidence in your business’ future when you could be slugged with a big tax bill by the Government from out of the blue and have little legal recourse for action.
“Just at the time when we need to be encouraging businesses in the ACT, the Labor government is killing them through pure inaction.
“This is not acceptable, and my amendments will address these issues. It will give businesses greater certainty on their tax position, and improve our overall economic environment,” concluded Mr Smyth.