SA best state to do business in according to Business Council of Australia

Australia's business council has crowned South Australia as the best state to do business in, while Victoria is ranked the worst.

Transcript

00:00South Australia has been the best state for business for the past two years in a row according

00:07to the Business Council of Australia.

00:09It says SA has earned the top spot again this year mostly because of its lower levels of

00:14payroll taxes, property charges and business licensing obligations.

00:19The Business Council's Regulation of Rumble report examines things like planning systems,

00:24payroll taxes and property taxes, as well as retail trading hours and workers' compensation

00:29premiums, and it's designed to help businesses navigate opportunities around the country.

00:35According to the report, the next best jurisdictions to do business after SA are Tasmania, the

00:40ACT and the NT.

00:43They're then followed by New South Wales, Queensland, Western Australia and Victoria

00:47was ranked last on the list.

00:49The report says that Victoria has more onerous regulations acting against growth and investment

00:55in a number of areas.

00:57It states that Victoria's property tax settings are the least competitive in the nation and

01:02that it also ranked uncompetitively in terms of payroll tax costs and business licensing

01:08requirements.

01:09It also singled out Victoria's land tax regime, saying it was the furthest behind with the

01:15third highest land tax rate and the highest stamp duty rate overall.

01:20As a result of these findings, the Business Council's Chief Executive, Bran Black, says

01:25that other states must now follow SA's lead if they want to attract investment.