The Victorian Government has announced a range of payroll tax initiatives to support businesses. One measure includes enabling eligible businesses to have their payroll tax waived for the 2019/20 financial year.
The State Revenue Office has published some FAQs:
What are the eligibility criteria?
Businesses with annual Victorian taxable wages up to $3 million will have their payroll tax for the 2019/20 financial year waived.
What about the tax a business has already paid for the 2019/20 financial year?
The State Revenue Office will directly contact eligible businesses in relation to reimbursement for payroll tax already paid in the financial year.
When will business reimbursements begin?
The State Revenue Office will begin making reimbursements from 27 March and will endeavour to make all reimbursements as soon as possible.
Do businesses still need to lodge payroll tax returns?
Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year.
Where can business owners get more information?
The State Revenue Office will send eligible businesses more information about the administration of these relief measures.
Are there any measures in place to help business owners in the 2020/21 financial year?
Yes. Businesses with annual Victorian taxable wages up to $3 million can also defer paying payroll tax for the first quarter of the 2020/21 financial year until January 2021.
What if an employer is a member of a group?
The eligibility threshold applies to each employer, so any member of a group that pays Victorian taxable wages of less than $3 million per annum will be eligible for the relief.
For more information, visit:
State Revenue Office
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