Premier Steven Marshall announcing a proposed new bill to raise the payroll tax threshold from $600,000 to $1.5 million.

The Payroll Tax (Exemption for Small Business) Amendment Bill 2018 being introduced in state parliament has an expected start date of 1 January 2019.

“At long last the economic handbrake is coming off small businesses in this state who will soon have more money in their pockets to reinvest into their operations to drive growth,’’ said Mr Marshall.

“Not only are we removing a major disincentive to businesses creating more jobs and employing more people, we’re making South Australia a much more attractive place in which to invest and grow.

“A further 400 businesses with payrolls between $1.5 million and $1.7 million will receive a welcome reduction in the amount of payroll tax they are required to pay through a phased-in approach.”