South Australia has been declared the best place in the country for business for the second consecutive year, according to the Business Council of Australia’s latest Regulation Rumble report. The annual study places South Australia ahead of Tasmania and the Australian Capital Territory, ranking all states and territories based on several business-related regulatory metrics.
The Regulation Rumble report looks at different factors such as payroll taxes, property taxes and charges, as well as the efficiency and transparency of planning systems and business licensing processes. SA scored highly across these areas, securing the top position overall. Specific areas where South Australia led include payroll tax rates, planning efficiency, consistency, and transparency. It also ranks highly in terms of property tax rates and business licensing.
South Australia has the lowest payroll tax rate for large employers in the nation and a competitive threshold that ranks second highest. The state’s progressive rate and deduction system benefit small businesses looking to expand, reducing the fiscal burden as they grow.
“While other jurisdictions have been raising taxes, we have been busy doing the opposite – delivering a stable environment for business to operate and cutting property taxes to stimulate further development,” Premier Peter Malinauskas said.
“The Business Council’s report is yet another endorsement of the State Government’s economic management, giving businesses more reason to choose to call South Australia home,” Treasurer Stephen Mullighan said.
“It follows South Australia being ranked the top performing economy in the country three times in a row by CommSec’s State of the States report, coming second only to WA in the latest quarter.”
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