VICTORIA: PAYROLL TAX REFUND
SUMMARY
Businesses with annual taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived.
POLICY
Payroll tax is a state based tax which not all businesses pay. Business must have wage bills in excess of $650,000 to have to pay this tax.
The Victorian government refund applies to business that currently pays this tax, and has annual taxable wages up to $3 million
These businesses will have their payroll tax for the 2019-20 financial year waived, which includes a refund for tax already paid, and no requirement to pay for the remainder of the financial year (until 30 June 2020).
From 01 July 2020 business can defer the first quarter’s payroll tax until 01 January 2021.
MORE INFORMATION
Refer to the Business Victoria website page and State Revenue Office page for more information.
HOW TO APPLY
The State Revenue Office will directly contact eligible businesses regarding payroll tax already paid this financial year. Reimbursements will commence from 27 March 2020 and be made ASAP.
Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year.