Payroll tax relief starts today

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.
 $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
For more information about your payroll tax requirements, visit revenue.nsw.gov.au