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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 and stimulus payment arrangements for ALL businesses

  • Payroll tax customers had the option of deferring their payroll tax payments until October 2020.
  • The payroll tax deferral period for monthly payments has now ended and you are required to make a payment or lodge a ‘nil return’ for the October 2020 return period onwards. .
  • The due date for the 2019/20 annual reconciliation was also extended to 30 October 2020. All customers are still required to lodge their annual reconciliation by this extended date.
  • After lodging, customers will have the option of paying their outstanding liability in full or entering into a Stimulus Payment Arrangement .
  • From 26 October 2020, customers will be able to establish a Stimulus Payment Arrangement for up to 24 months and will have the option to include tax payable from the 2019/20 annual reconciliation and any monthly liabilities for July, August and September 2020 return periods.
  • The option to establish a Stimulus Payment Arrangement will only be available between 26 October 2020 and 29 November 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.

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