On the 27th March, the NSW state government announced the 2nd of its economic stimulus packages.
The key features being:
- For businesses with payrolls of up to $10M, the waiver of payroll tax for the months from April to June 2020 and then a deferral of payroll tax for the following 3 months.
- For businesses with payrolls in excess of $10M. the deferral of payroll tax for the next 6 months.
- The payroll tax threshold will be raised to $1M in 2020/21. Thereby bringing forward another round of payroll tax cuts for eligible businesses.
- The waiving of fees and charges for small businesses, employment of additional cleaners of public infrastructure and bringing forward maintenance of public assets and capital works.
For more information, please visit the following link: