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Payroll tax is essentially a tax on wages which covers a range of benefits and income. Once an employer/business group pay out wages that are more than the monthly threshold, they must pay payroll tax.
These monthly thresholds are:
- 28 days – $92,055
- 30 days – $98,630
- 31 days – $101,918
From 1 July 2020 the payroll tax rate is 4.85%, with the threshold for 2020-2021 being $1.2 million.
Payroll Tax Incentive Scheme (PTIS)
PTIS is an initiative of the Department of State and Regional Development. It was set up in order to help businesses get set up and prosper in areas where the unemployment rate was far higher than the state average.
If you are benefitting from the PTIS, you need to continue paying your payroll tax, but you may claim back the rebate at the end of the reporting period.
Payroll Tax Issues
If you are having issues with your notice of assessment, you are allowed to lodge an objection within 60 days of it being issued. Once a decision has been reached on your objection, you will be informed in writing, and if your objection has been disallowed in any way this will also be included in writing.
If you are not happy with the decision that has been reached, you can go to the Administrative Appeals Tribunal, and their decision is final and applicable to both parties – unless you then take the matter to the Supreme Court of NSW. When you apply to the Administrative Appeals Tribunal (AAT) for review of some kinds of decisions, there is no application fee.
For the review of other decisions, a fee must be paid. If a fee is payable, the full application fee is $861. In certain circumstances, this fee can be reduced to $100.
If your application will be dealt with in the Small Taxation Claims Tribunal, the application fee is $85. This fee cannot be reduced
If you like more information or assistance regarding Payroll Tax, complete and submit the Express Enquiry form on the top right hand side of this page and we will contact you to discuss your enquiry or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.
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The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.