Stephen Mullighan MP, Treasurer of South Australia, handed down the 2024-25 State Budget on 6 June 2024.
The Budget contained measures to combat cost of living pressures for individuals and businesses and also includes additional spending in respect of infrastructure, housing and healthcare. The key measures contained within the Budget are summarised below.
Businesses – Energy grants
Small business energy grants will be provided to up to 8,000 eligible small business and not-for-profit organisations. These grants range between $2,500 and $50,000 and are aimed at incentivising businesses to invest in energy efficient equipment or other improvements to manage their energy usage.
Payroll tax exemption – General Practitioners
General practitioner wages paid in relation to bulk billed services will be exempt from South Australian payroll tax from 1 July 2024. In addition, an amnesty on wages paid to certain general practitioners and other medical service providers prior to 30 June 2024 will be legislated to ease the administrative burden for these businesses.
First home buyers
The following incentives have been announced for first home buyers in South Australia:
The following table provides an example of how much an eligible new first home buyer can expect to save as a result of these changes:
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