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New financial year changes for NSW businesses
Tuesday 05 July 2011
From 1 July 2011, changes will apply to payroll tax in NSW. This includes changes to the tax threshold and the introduction of the Jobs Action Plan rebate scheme.
From 1 July 2011 to 30 June 2012 the annual payroll tax threshold is $678 000.
The monthly threshold is:
- $53 721 for 29 days
- $55 574 for 30 days
- $57 426 for 31 days.
The payroll tax rate is 5.45%.
The NSW Government is also introducing the Jobs Action Plan from 1 July as an incentive for businesses to employ more workers. If your business employs staff in positions that are new jobs, you may be eligible to receive a payroll tax rebate.
For more information on the threshold changes and to find out if you’re eligible for the Jobs Action Plan, visit the NSW Office of State Revenue website.