NSW budget: What business advocates want to see for SMEs

Sep 19, 2023 · Business advocates are hoping for payroll tax reforms, changes to the workers’ compensation system, and elevated small business procurement rates in the 2023-2023 NSW …

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NSW Budget: $325 Rebate For SMEs In Cost-of-doing-business Crisis

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Jun 18, 2024 · While small businesses should not expect state-funded energy bill rebates, the NSW government has committed some extra funding to SME-facing initiatives. The Service …

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NSW Budget - What's In It For SMEs? - CIB Accountants & Advisers

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Sep 20, 2023 · Additionally, the tender support program at TAFE NSW will receive a $5 million injection, allowing small businesses to continue accessing government procurement training. …

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Member Updates - Business NSW | Business NSW

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Business NSW supports a Budget to get NSW back on track NSW Budget 2021-2022. ... SMEs that do not pay payroll tax will continue to receive a $1,500 digital voucher to use against the …

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Member Updates - Business NSW | Business NSW

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Overview. A big-spending “Reform Budget”: A Deficit of $16.6 billion for 2021-22 reducing to $11.3 billion in 2022-23 and forecast to still return to surplus in 2024-25 with a slightly …

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NSW Budget: Here Are 10 Key Measures For Small Businesses

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Jun 23, 2021 · The NSW budget unveiled on Tuesday includes continuing payroll tax cuts for SMEs and voucher programs for hospitality and tourism. ... $50,000 for small businesses to …

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Insurance Premiums Threatening NSW SMEs: Urgent Call For Reform ...

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Sep 9, 2024 · Discover how skyrocketing insurance premiums are impacting NSW's small and medium enterprises (SMEs). According to the latest Business Conditions Survey, over 13% of …

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Member Updates - Business NSW | Business NSW

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Budget balance & net debt: A budget surplus of $9.3 billion (0.3% of GDP) is projected for 2023-24, upwardly revised from the deficit of $1.1 billion forecast in December 2023. A budget …

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FAQs about NSW budget: What business advocates want to see for SMEs Coupon?

What is included in the NSW Budget?

These items listed in the NSW budget are above and beyond key measures to support small businesses announced by the Australian government in the 2023-24 federal budget, which included: Return of the instant asset write-off threshold to $20,000 for 12 months from 1 July 2023. $325 deduction on power bills for eligible small businesses. ...

Should NSW budget increase small business procurement?

In its submission, Business NSW said the budget should take steps to increase small business procurement to $10 billion per annum. “There is an opportunity to help NSW SMEs and startups to not only survive through the current economic headwinds, but to help them thrive,” it said. ...

What does the new NSW Building Commission mean for small businesses?

Small businesses in the construction sector are likely to come under the purview of the new NSW Building Commission, which the budget papers posit as a “single body to oversee the regulation, licensing and oversight of the building construction industry to support high-quality housing and protect home buyers”. ...

What's new in NSW's 2023-2024 budget?

NSW Treasurer Daniel Mookhey presented the 2023-2024 state budget, which introduced significant changes to the $700 million innovation fund and made cuts to the state's tourism promotion department and EV incentives. Here's a summary of the key points: ...

What is Destination NSW's Pre-Budget Statement?

In its own pre-budget statement, the organisation called for the government to continue Destination NSW funding to prop up the visitor economy. It also advocated for the creation of a $50 million “smaller scaled state significant event fund”, which the advocacy group said would provide downstream benefits to small businesses. ...

How much relief will NSW businesses get for electricity bills?

These businesses will be granted a one-time relief payment of $650 towards their electricity bills during the 2023-24 fiscal year. The NSW Government is injecting a record-breaking $1.8 billion into revitalising the Electricity Infrastructure Roadmap, including a boost of $804.0 million for Renewable Energy Zones. ...