The NSW Government has increased payroll tax relief for the 2021–22 payroll tax year.
Businesses with an annual Australian taxable payroll of $10 million or less that were eligible to receive either the:
- 2021 NSW COVID-19 Business Grant, or
- JobSaver payment,
are eligible for a 50% reduction in NSW payroll tax to June 2022.
If your business has total grouped annual Australian wages of $10 million or less and you did not receive one of the stimulus payments, you may still be eligible. All you need to do is demonstrate a reduction in turnover of 30% or more due to the COVID-19 restrictions in place during the 2021–22 payroll tax year.
Please check in with us if you would like to understand more about your eligibility for this reduction. The 2021–22 payroll tax relief will be provided to the annual reconciliation in July 2022.