Insights
NSW Payroll Tax and 80% Bulk Billing
Payroll tax in NSW is a tax on wages paid by employers. If a business’s total wages exceed the threshold of $1.2 million in total annual wages, the payroll tax rate is 5.45% This means businesses that pay more than $1.2 million in wages annually must register and pay payroll tax on the portion of wages exceeding that threshold.
ATO data matching of property data and lifestyle assets (from 26 August 2024)
Payroll tax in NSW is a tax on wages paid by employers. If a business’s total wages exceed the threshold of $1.2 million in total annual wages, the payroll tax rate is 5.45% This means businesses that pay more than $1.2 million in wages annually must register and pay payroll tax on the portion of wages exceeding that threshold.
Payroll Tax Update
On 22 December 2022, the State Revenue of Queensland issued Payroll Tax Ruling PTAQ000.6.1 to deal with the application of payroll tax to medical centres.
The latest ATO guidance on s100A Trust distributions
The ATO has finalised its guidance on section 100A reimbursement agreements.
Director ID requirements
It is mandatory for all Directors of companies to have a Director ID.