PAYROLL TAX FURTHER REDUCED for businesses in regional victoria
The Andrews Labor Government has announced in the 18/19 budget that payroll tax will be further cut for small businesses in regional Victoria, making it the lowest anywhere in Australia. This will be effective from 1 July 2018.
The regional payroll tax rate will be cut from 3.65% to 2.425% – half the metropolitan rate of 4.85%.
Businesses based in regional Victoria and who pay at least 85% of their payroll to regional employees will be eligible from 1 July 2018.
Please click here for information regarding the regional geographic locations in which regional employers will be eligible for the 2.425% payroll tax rate.