For the second year running, the Business Council of Australia has found South Australia is the best place in Australia to do business.
The BCA's annual Regulation Rumble report released today ranks South Australia 1st in the country ahead of all other states and territories.
| 1st | South Australia |
| 2nd | Tasmania |
| 3rd | Australian Capital Territory |
| 4th | Northern Territory |
| 5th | New South Wales |
| 6th | Queensland |
| 7th | Western Australia |
| 8th | Victoria |
Source: BCA Regulation Rumble 2024
The Regulation Rumble report ranks jurisdictions on a series of criteria including payroll taxes, property taxes and charges, planning systems and licenses to do business.
The BCA ranked South Australia first in the country on a range of measures including:
- Cost and regulation
- Payroll tax
- Land use and planning system
- Planning efficiency
- Planning consistency
- Planning transparency
The state also ranks in the top three performers for property taxes and charges and business licencing.
South Australia has the lowest payroll tax rate for large employers and (joint) second highest threshold.
With its low payroll tax rate and its progressive rate and deduction system, South Australia also leads the way for the lowest payroll tax rates for small expanding businesses.
As put by Premier Peter Malinauskas
We are unashamedly a pro-business Labor Government.
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.
This approach is delivering results.
The Business Council of Australia's comprehensive report adds to a compelling body of evidence showing South Australia is the best place in the nation to do business.
As put by Stephen Mullighan
South Australia is the lowest taxing state on the mainland and has the best operating environment in the nation to do business.
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.
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.
As put by Business Council of Australia CEO Bran Black
South Australia topped the rankings overall for having the best regulatory environment.
This was largely driven by it having lower payroll taxes, lower property charges and less voluminous business licensing.
South Australians have made it clear that they want their state to be destination number one for business, and other jurisdictions need to take note if they want to remain competitive in attracting business investment.
We know that lower taxes and more efficient regulatory settings increase business growth and productivity – South Australia is leading that charge and will see the benefit of increased investment.
