Queensland employers who hire apprentices and new trainees are set to benefit under the new budget reforms.
In keeping with it’s election commitment, the Queensland Government will grant a 25% rebate of payroll tax on the wages of new trainees and apprentices – in addition to their wages being exempt from payroll tax up until 30th June 2018.
The rebate will be used as an offset against the payroll tax due on the wages of other employees, and will enable Queensland to continue to develop a highly skilled workforce into the future.
The Queensland Government estimates that this incentive will result in an estimated $45 million in tax savings for businesses over the next three years.