PAYROLL TAX CUTS FOR REGIONAL VICTORIAN BUSINESSES

PAYROLL TAX CUTS FOR REGIONAL VICTORIAN BUSINESSES

In the 2017/18 Federal Budget the Government announced cuts to Payroll Tax for Regional Victorian Businesses.

From 1 July 2017 Regional Victorian business may now qualify for a 25% cut in their payroll tax. Employers that pay at least 85% of their Victorian wages to employees working mainly in regional areas will be eligible for a reduction to their payroll tax rate.

The Payroll Tax Rate will decrease from 4.85% to 3.65% on all taxable wages.

Regional Victoria includes all Victorian regions other than the Melbourne Metropolitan area.

This will support regional employers to grow their businesses and encourage further employment of workers in regional areas.

If you think you could be eligible for the concession, please contact our office for further information.

For more information on Payroll Tax, visit http://www.sro.vic.gov.au/payroll-tax

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