THE PAYROLL TAX SPECIALISTS
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ACT increases threshold for payroll tax

30 May 2016 It’s good news for some businesses in ACT with the government increasing the payroll tax threshold from $1.85m to $2m from July 2016. The increase in threshold will see businesses in the ACT whose payroll is more than $2m receive a $10,000 cut in payroll tax. Some ACT businesses will no longer […]

Uber and Payroll Tax

22 March 2016 Uber was founded in 2009 in San Francisco and now operates in 56 countries throughout the world including Australia. It has a market valuation of over US$60 billion. Last financial year Uber paid only $249,000 company tax in Australia compared to $1.25m in payroll tax. It appears, however, in light of a […]

Which industry pays more than any other in Australian taxes?

19 October 2015 According to a report by the Australian Bankers’ Association, banks paid $13.7bn in taxes to Australian governments in 2014 which is more than any other industry. The Association reported that the banking industry employs 150,000 workers and paid $13.7bn in taxes per year plus $23bn in dividends and $75bn in interest. The […]

NSW Small Business Minister calls for scrapping of Payroll tax

16 July 2015 In a move away from his Government’s own policy, the NSW Small Business Minister John Barilaro intends calling for payroll tax to be scrapped in NSW. If it can’t be scrapped the government should at least increase the threshold to make NSW more competitive with the other States, he is reported to […]

Payroll Tax the biggest earner for Queensland and Victoria

4 July 2015 The single largest contributor of taxation revenue in Queensland and Victoria is payroll tax. Queensland taxed businesses on their wages nearly $4 billion in 2014-15. Victoria which has a lower exemption threshold and higher payroll taxation rate taxed its businesses nearly $1 billion more. Payroll tax is a tax on employers calculated […]

Foreign Investment in Farmland and Agribusinesses under the Microscope from today!

2 July 2015 A new register has been set up by the Australian Federal Government where overseas owners of farmland and agribusinesses must notify the Australian Tax Office by the 31st December 2015. The new rules also require foreign investors to register any new purchases of farmland with the ATO within 30 days of purchase. […]

New South Wales has a Bonzer Surplus Thanks to the Property Boom

24 June 2015 The NSW government collected more than $7.29 billion in stamp duty over the year, with three-quarters of that coming from residential property sales. That is an increase of over 20% compared to last year’s receipts. The State’s surplus for the year was a record $2.1 billion. Land tax contributed nearly $2.5 billion […]

McGrath Real Estate Agents settle $6m claim for payroll tax

11th June 2015 McGrath Real Estate Agents who were issued with an assessment of over $6m by NSW Office of State Revenue have settled the OSR’s claim for payroll tax, interest and penalty tax. The OSR alleged McGraths were liable for payroll tax on commission payments received by “independent” agents who were contracted to them […]

Oh, What You Can Do When You Have a Surplus!

22 June 2015 South Australia’s Labor Government has made a number of bold initiatives in favour of its business community after having delivered its Budget for the 2015-16 financial year on the 18 June 2015. Because of South Australia’s operating surplus from it growing share of GST revenues it has been able to afford to […]

South Australia’s Treasurer calls for Federal Government to takeover payroll tax

18th June 2015 Apparently South Australia’s Treasurer, Tom Koutsantonis wants to stop the competition between the States to lower payroll tax and hand over collection of the tax to the Federal Government. South Australia levies one of the highest rates of payroll tax with the lowest thresholds. South Australia’s tax rate is 4.95% compared to […]