The payroll tax threshold has been lifted to $900,000 today, the second stage of a four-year plan to lift the payroll threshold to $1 million by 2021-22.
The new threshold will make it easier for small business to hire additional staff and reduce red tape and tax administration expenses. As a direct result of the Chamber’s advocacy:
• 40,000 NSW employers will save more than $1 billion over the next four years
• 5,000 businesses will be excluded from the payroll tax system altogether
• employers will benefit from streamlined tax administration, including 11,000 businesses which will become eligible for annual lodgement.
For more information about your payroll tax requirements, visit revenue.nsw.gov.au
The new threshold will make it easier for small business to hire additional staff and reduce red tape and tax administration expenses. As a direct result of the Chamber’s advocacy:
• 40,000 NSW employers will save more than $1 billion over the next four years
• 5,000 businesses will be excluded from the payroll tax system altogether
• employers will benefit from streamlined tax administration, including 11,000 businesses which will become eligible for annual lodgement.
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| $900,000 1 July 2019 to 30 June 2020 | $950,000 1 July 2020 to 30 June 2021 | $1 million 1 July 2021 to 30 June 2022 |
