BQK Tax Flash – changes to Payroll Tax Exemption

Our June 2016 Newsletter included an article called “Looking for a way to reduce Payroll Tax?”

This article explained that for each eligible employee who undertakes a Traineeship (as defined), your business could potentially exclude that employee’s wage from WA Payroll Tax (5.5%).

Late last week the State Government announced changes to this exemption.

The Government will introduce a Bill into Parliament in 2018 to limit the payroll tax exemption to new employees with annual wages of $100,000 or less. The bill, when passed, will have effect from 1 December 2017.

New employees are defined as an employee that has been continuously employed for less than 3 months full-time or less than 12 months casual or part-time, or a combination of both.

To find out more about the new eligibility requirements and how they may affect you, please click this link http://www.finance.wa.gov.au/cms/uploadedFiles/_State_Revenue/Publications_and_Resources/Circulars/Payroll_Tax_Circular_10-Trainees_Exemption.pdf

Based in Canning Vale, Perth, our expert team can assist in a many ways: please call us on 08 9256 2777 or email admin@bqk.com.au to see how our Accountants can assist managing your payroll tax obligations.

 

Read More
Tax scams start phishing earlyWith tax time underway the ATO are seeing an increase in reports of email scams that try to steal personal information. Scammers pretending to be from the ‘myGov customer care team’ are sending emails that...
Read More