This week, the NSW state budget revealed that the payroll tax threshold would be increased from $750,000 to $1 million over the next four years.
The threshold will be progressively increased, starting with an increase to –
$850,000 for 30 June 2019
$900,000 in 2019-20
$950,000 in 2020-21
$1 million in 2021-22
This adjusted payroll tax brings NSW in line with the thresholds already enjoyed by most other states and territories in Australia.
This movement in the threshold has been made as a result of continued lobby business networks and accounting bodies over a number of years.