Victorian Payroll Tax update
The State Revenue Office (SRO) in Victoria have been a great support for businesses during the Coronavirus pandemic with a large number of incentives to assist businesses during a tough time. Employers with annual Victorian wages up to $3m have their 2019-2020 payroll tax waived JobKeeper payments are exempt from payroll tax calculations New Jobs Tax Credit encouraging rehiring and new jobs Deferring 2020-2021 payroll tax liabilities until 2022 financial year Threshold changes as of 1st July 2021 All of these combined allow businesses to have more flexibility in budgeting for their future expenses and investments. During a time when Read more