NSW Government Announces Payroll Tax Cuts

The NSW Treasurer, Dominic Perrottet, has announced that the payroll tax threshold will be increased from the current level of $750,000 to $1m by 2021/22, ahead of its Budget on 19 June 2018. The threshold, the point at which companies start paying payroll tax, will rise to $850,000 in 2018/19, $900,000 in 2019/20, $950,000 in 2020/21 and […]

SMSF Taxation Regulations Remade

Regulations have been registered to remake and improve the Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 and ensure their effect continues. The Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 (the 1999 Regulations) prescribed the timing for when the self managed super fund supervisory levy was due and payable. The Superannuation (Self Managed Superannuation Funds) Taxation […]

Personal Income Tax Plan Bill Introduced

The Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018 has been introduced into parliament. Changes to tax offsets Schedule 1 of the Bill proposes to amend the tax law to: • introduce the low and middle income tax offset to reduce the tax payable by low and middle-income earners in the 2018/19, 2019/20, 2020/21 and 2021/22 […]