NSW: Payroll Tax Reduction Bill Introduced

On 20 October 2021, NSW Treasurer Matt Kean introduced a Bill to the NSW Parliament to amend the Payroll Tax Act 2007 to allow a 50% waiver of payroll tax for 2021/22 for eligible employers. This is part of the NSW Government COVID-19 business support measures.

To be eligible for the waiver, employers must meet the criteria:-

  • Wages bill of $10m or less
  • Qualified for the 2021 JobSaver Payment or Business Grant schemes or met the 30% decline in turnover test, repayment of whether the employer applied for a grant or payment or met the other criteria to be eligible for the grant/payment schemes

To read the full detail of the bill and eligibility https://www.parliament.nsw.gov.au/bill/files/3904/First%20Print.pdf

At this stage the Bill has been introduced into the Parliament and comes into effect on the date of assent of the Act. We will provide further updates when the Bill passes. For more informative articles please visit https://www.tobinpartners.com.au/articles-news/

Peter Tobin, Tobin Partners Lawyers peter@tobin.net.au 0438 001 809

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