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 […]
Qld Chamber of Commerce & Industry has a $1m win against the Payroll Tax Office Qld
QCCI has scored an enormous win against the Qld Commissioner of State Revenue by obtaining a $1m refund for payroll tax. The case was decided after the Commissioner refused to register the QCCI as a charitable institution for tax purposes. The QCCI sought over $2.2m from the Commissioner for payroll tax paid from 2007 to […]
Some Interesting Statistics on Payroll Tax in Queensland
According to the Qld Government Strategy and Outlook 2014 to 2015 taxation revenue is nearly 25% of the State’s total revenue. About 50% of the State’s revenue comes in grants from the Federal Government. Payroll tax has recently overtaken transfer duty as the key contributor to Qld’s tax revenue collections. In 2014-5 payroll tax is […]
Cut Payroll Tax and Increase GST
4th June 2015 South Australia’s peak business group, Business SA has called on the Federal Government to increase GST and with the extra revenue raised being used to abolish State payroll tax. In its submission to the Federal Government Business SA has called on Canberra to show real political courage and achieve meaningful taxation reform. […]
