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COVID-19 Tax Relief Measures NSW


Tax relief support is available for New South Wales businesses impacted by COVID-19.

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What do you get?

Various tax relief measures 

Who is this for?

New South Wales businesses.

Overview

As part of the NSW government's COVID-19 economic stimulus package the following tax relief measures are available to eligible businesses:

Payroll tax deferral arrangements for ALL businesses

  • Payroll tax customers have the option of deferring their payroll tax payments until October 2020.
  • All customers are still required to lodge the 2019/20 annual reconciliation by the due date.
  • Any outstanding liability for the 2019/20 financial year and the monthly payments for the July, August and September periods will be deferred until October 2020.
  • Customers will have the option of paying their outstanding liability in full or entering into an instalment plan after October 2020. Information regarding how to apply for an instalment plan will be available in September 2020.

25% reduction for businesses with grouped Australian wages of $10 million or less

  • Payroll tax customers whose total grouped Australian wages for the 2019/20 financial year are $10 million or less, will have their annual tax liability reduced by 25% when they lodge their annual reconciliation.
  • When lodging your annual reconciliation, you will still need to provide details of the wages paid for the entire financial year.
  • For customers that are or have been a member of a group during the 2019/20 financial year, you will also need to provide the group details of all group members in your annual reconciliation.

Threshold increase - 2020/2021 financial year

  • The tax-free threshold will increase from $900,000 to $1 million for the financial year commencing on 1 July 2020.

You can find out more about these measures at COVID-19 (coronavirus) and payroll tax.