ANNOUNCEMENT 17 Nov 2015In November 2015, the government of Australia announced a targeted tax change.
NUMBER OF INTERVENTIONS
Payroll Tax Deferral (BlueScope Steel) Bill 2015
On 17 November 2015, the government of New South Wales passed an act introducing tax deferrals worth 60 million AUD (ca. 42.59 million USD) for the coming three years for steelmaker BlueScope's Port Kembla.
The state aid is meant to prevent up to 5'000 job losses at the local steel plant in the Illawarra region. BlueScope will have 10 years to pay off the tax.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.