Payroll Tax and Workers Compensation Relief For JobKeeper Top Up Payments
5 June 2020
Following on from the previous Payroll tax relief measures, the NSW Government has now announced that any top up payments made to employees for JobKeeper will be exempt from payroll tax.
Further, The State Insurance Regulatory Authority (SIRA) has determined that only payments made for work undertaken or hours worked are to be included as wages to calculate workers compensation premiums.
Employers must pay their eligible employees a minimum of $1,500 per fortnight to receive the JobKeeper payments. Any additional wages paid to employees to meet the requirements of the JobKeeper scheme will be exempt from payroll tax and workers compensation.
If you're an employer who pays wages in NSW, you must register for payroll tax if your total Australian wages exceed the relevant monthly threshold.
If you're a member of a group, the total Australian wages paid by all members of the group determines whether you should register for payroll tax.
For more information on payroll tax or workers compensation, contact your Boyce Accountant.