i3 Group Reports On Queensland Government's Promise to Consider Abolishing Payroll Tax Fines On Small Businesses

(prHWY.com) March 1, 2013 - Victoria, Australia -- Queensland's serving Liberal government has promised to see if the payroll tax fines on small businesses can be abolished. The payroll tax threshold is currently set at $1.1 million in Queensland. If it is abolished, lowered or even if the government promises to consider each incident on a case by case basis, companies who currently pay huge fines will benefit.

Deb Frecklington, the Assistant Minister for Finance Administration, made the promise at a meeting with businesses in Hervey Bay. The meeting was attended by six businesses from the area and the Hervey Bay Chamber of Commerce President. The agenda of the meeting was to see what kind of hurdles faced by local businesses could be removed, so they could function more efficiently.

The minister said that her government was serious about addressing red tape and she was happy to receive suggestions from people who were closer to the ground reality. She also said that outsourcing payroll tax issues were important to her government and they would receive appropriate attention.

The issue of the fines was raised by Bernard Whebel, from the Hervey Bay Chamber of Commerce. He said that most companies did not know when they went over the payroll tax threshold. It was only when the accounts were finalized and their accountants pointed out the matter to them that they realized it. When businesses reported it to the government, not only did they have to pay the payroll tax, they were also fined for the delay.

It was proposed that the government should give amnesty to businesses that own up their error and report the matter to the government. From her side, Ms. Frecklington promised that her government would look into the matter and try to come up with a plan that would be good for all.

i3 Group notes that the Queensland Government Office of State Revenue website says if a business is not able to pay payroll tax or lodge returns before the due date for some reason, it has to contact the office and explain why it happened. The penalty can be as high as 75% of the payroll tax and this is not all. Under certain circumstances, the fine can even be raised by 20% more.

The delegates who came to the meeting were happy with the outcome. One attendee even said that the Minister gave all of them a patient ear and heard their problems out carefully. Mr. Whebell also seemed happy. He said that meeting had ended on a positive note and he hoped that the government implemented their proposals to reduce red tape.

About i3 Group

i3 Group is a specialist payroll processing company that provides its services across many industries. Payroll solutions from i3 Group are highly customizable. The group's payroll services have been acknowledged for their reasonable costs and significant time savings.

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