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Three reasons why South Australia is the best place to start and grow a business

South Australia is quickly becoming the best place to start and grow a business and there are three major reasons why the state stands out.

South Australia is quickly becoming the best place to start and grow a business. According to Bran Black, the Chief Executive Officer of the Business Council of Australia, there are three major reasons why South Australia stands out: its competitive payroll tax system, its crucial role in the AUKUS deal, and its investment in the State Prosperity Project.

1. Competitive Payroll Tax System

South Australia has one of the lowest payroll tax rates in the country. This means businesses pay less tax on their employees’ wages compared to other states. Lower taxes can help businesses save money and invest more in their growth.

2. The AUKUS Deal

The AUKUS deal is a significant international agreement involving Australia, the UK, and the US. This deal is expected to transform the economy of South Australia by creating numerous jobs and generating energy. According to Bran Black, it’s a “whole-of-economy transformation” that will attract people and businesses to the state.

3. State Prosperity Project

The State Prosperity Project is a government initiative aimed at boosting economic growth and attracting more business investments. With this project, South Australia is focusing on creating a thriving business environment that supports long-term success.

South Australia’s economy is currently performing exceptionally well. In fact, CommSec’s State of the States report has ranked it number one in the nation for the third consecutive quarter. Plus, the Institute of Public Affairs Ease of Doing Business Report highlights that South Australia has the lowest payroll tax and stamp duty burdens and the fewest regulatory restrictions among all states.

South Australia’s low taxes, strategic projects, and strong economic performance make it a great place for businesses. With a supportive government and a promising future, it’s no wonder SA is considered the best place to do business.

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