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Payroll Tax Rebate Scheme

Posted by Northadvisory on October 22, 2018

If you are a NSW business owner, you may be eligible for a payroll tax rebate.

Businesses that create and fill new jobs on or after 31 July 2016 will receive payroll rebates worth A$6,000. New jobs commencing on or after 31 July 2016 will receive a rebate of up to $2,000 payable on the first anniversary and up to $4,000 on the second anniversary.

To be eligible, your business must be registered as an employer and paying payroll tax.

Eligible businesses that increase the number of NSW FTE employees, will receive a payroll tax rebate following the employment of each additional NSW employee in a position that is a new job. A position is a new job if the employment of a person in that position results in a sustained increase in the employer’s NSW FTE employees. New jobs commencing on or after 31 July 2016, will only be eligible for the rebate if the employers full-time equivalent (FTE) employee number, prior to the new job, is at or below 50. This increase must be sustained on both the first and second anniversaries of the date the employment commenced. However, if employment is only maintained for the first year then the rebate will only be paid for that year.

Please note: a registration for a new job must be made within 90 days of the job commencement date or it will not be eligible for the rebate.

If you have questions on any of the above issues raised, please do not hesitate to contact us.

Kim Edwards
Chartered Tax Adviser
Chartered Accountant
T: 02 9984 7774
E: kime@northadvisory.com.au