Payroll Tax rebate passed in Qld Parliament on 3rd June 2015
Under changes to the Payroll Tax Act 1971 the Qld Government is offering an incentive to businesses where they employ an apprentice or trainee. Employers who hire new apprentices or trainees will get a 25% payroll tax rebate on the payroll tax of another worker. The incentive will be offered over 3 years. According to […]
Federal Government offers period of grace to foreign investors
9th June 2015 Any foreign investors who think they may have breached the rules should come forward says the Federal Government. From 1st December 2015 tougher penalties will apply to foreign investors who breach the Government’s investment rules. There will be criminal sanctions and fines up to $127,500 or three years imprisonment for individual investors […]
Foreign Buyers will think twice about buying residential property in Victoria
As from the 1st July 2015 foreign buyers of residential properties in Victoria will be slugged an extra 3% duty above normal stamp duty rates. The surcharge will bring the maximum stamp duty rate to as high as 8.5% on residential property transactions. The 8.5% rate will apply to residential properties exchanging hands for more […]
How to Avoid an Audit for Payroll Tax
Payroll tax is often completely overlooked by business. One reason is that payroll tax creeps up on businesses and without realising it their wages exceed that State’s* threshold. Unfortunately, the thresholds are different in each jurisdiction. Someone I know recently received a payroll tax assessment for over $100,000. He didn’t even know that he had […]
Seven Things You Should Know Before Registering for Payroll Tax
Payroll tax is a State based tax paid by employers. It is collected throughout Australia by each State and Territory. Each State and Territory has its own rules for calculating and applying payroll tax. Even though it is a state based tax it is calculated on the total wages you pay in Australia. Here are […]
