Recently the NSW Government announced the following payroll tax changes that could promote business growth:

1. The ‘Jobs action plan’ was extended to 30 June 2015. This plan provides a payroll tax rebate of up to $5,000 to businesses over a 2 year period who expand and employ new workers within NSW. Businesses that employ a new staff member in a new position within the business from 1 July 2013 will receive a $2,000 payment at the end of the 2014 financial year and a $3,000 payment at the end of the 2015 financial year.
2. The NSW payroll tax threshold has increased to $750,000 from 1 July 2013. Businesses start paying payroll tax once annual salary costs exceed this threshold. The increased threshold will provide businesses with potential savings of approximately $3,000 per year.

For further information or assistance with respect to the above changes, contact Matt on 0478 672 714 or email matt@hdbusinessconsultants.com.au.