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By Tui Silvester
Do you have a payroll tax liability for the 2019/2020 year or for the months of July to September 2020?
One of the tax relief measures provided by the NSW Government was the deferral of any payroll tax payments from March 2020 until 30 October 2020.
The due date for the lodgement of the annual reconciliation was also extended to 30 October 2020.
After lodgment of the annual reconciliation, employers will have the ability to establish a Stimulus Payment Arrangement for up to 24 months.
The arrangement can include any liability from the 2019/2020 annual reconciliation and any July to September 2020 monthly liabilities.
The option to enter into one of these arrangements is available through your Payroll Tax Online Services account from 26 October 2020 to 29 November 2020.
The arrangement can be made for weekly, fortnightly or monthly repayments to enable employers to better manage their cash flow requirements.
There is an initial interest free period of up to 12 months, after which interest will be charged at the applicable rate.
Should you have any questions regarding your payroll tax obligations please contact your WDF team member.
Client Services Manager