Tax relief for Victorian employers

As of 1 July 2017, employers in regional Victoria will now be eligible to receive a 25% cut to payroll tax rates.

The rate has been reduced from 4.85% to 3.65%, making it the second lowest rate in the country behind South Australia.

Businesses eligible for the reduction must have at least 85% of their workforce ‘regional employees’.

The payroll tax free threshold has increased from $575,000, to $625,000. The threshold will increase again next July to $650,000.

The cut is hoped to help create more jobs in regional Victoria and benefit around 38,000 regional businesses.

Businesses in areas including Bendigo, Shepparton, Echuca, Ballarat, Mildura and Geelong are eligible.

If you are an employer and meet the criteria the opportunity is there now to be fully explored.

To find out if you are eligible please give us a call on 03 5443 0344.