The Western Australian State Budget provides a number of opportunities for small business owners via a significant spend in transport infrastructure and maintenance projects.
The initiatives announced under the State’s COVID-19 Recovery Plan form a large portion of the State Budget announcements targeted to small businesses.
If you missed our Federal Budget recap, make sure you find out what the Federal Budget means for small business.
Opportunities to work on government projects
The State Government’s focus on transport infrastructure and maintenance funding will provide a number of opportunities for small businesses including:
- rail expansion projects and station upgrades
- road upgrades and expansions
- local manufacturing and assembly of railcars.
In total, the State will be investing a $27.1 billion in infrastructure projects (including $7.5 billion on regional projects) during the next four years.
Measures announced under the State Budget to provide financial relief when it comes to utility bills, including.
- a freeze on increases to household fees and charges
- $600 household electricity credit.
Waiving of government licences and fees
This includes a range of measures announced as part of the State’s Recovery Plan:
- up to $100 million to waive a range of licence fees for sectors affected by COVID including trades, commercial fishing and tourism
- a waiver of liquor licence fees in 2020, including refunds for businesses that had already paid this fee
- bringing forward the increase in the payroll tax exemption threshold
- four month payroll tax waiver for employers who have taxable wages of less than $7.5 million (as at 29 February 2020)
- a payroll tax exemption for wages provided under the JobKeeper scheme.
Visit the Western Australian State Budget website for more information on these, and other, budget announcements.