PAYROLL TAX CHANGES FROM 1 JULY 2019
There are changes from 1 July 2019 that may affect your payroll tax in Queensland for 2019–20. These changes will not affect your 2018–19 Annual Return which was due on 22 July 2019.
Rates and thresholds
From 1 July 2019, the payroll tax rates and thresholds have changed.
Rate discount for regional employers
From 1 July 2019 to 30 June 2023, regional employers may be entitled to a 1% discount on the rate of payroll tax imposed on their taxable wages. Eligible regional employers will be able to apply the rate discount in OSRconnect periodic, annual and final returns.
Find about the requirements for the regional employer rate discount.
Employment growth rebate
A payroll tax rebate up to $20,000 may be available to employers who can demonstrate a net employment growth over a full financial year. The rebate:
• will be available from 1 July 2019 to 30 June 2021
• may be claimed per employer
• will only be applied to eligible employers in the annual return.
A baseline total of all Queensland full-time positions should be kept at 1 July 2019. Record-keeping requirements are outlined on the employment growth rebate page.
Need more information? You can:
• go to www.qld.gov.au/payrolltax or
• call McFillin & Partners on 07 3263 7030
LONG SERVICE LEAVE IN THE CONSTRUCTION INDUSTRY
During the last 40 years, all Australian states and territories have introduced portable long service leave schemes for the construction industry.
Portable long service leave rewards your workers for their service to the industry by making sure they have access to long service, even if they change employers or work interstate.
How does it work?
• Each scheme is funded by either an employer levy, or a developer levy
• Once your employees reach an entitlement, they can claim long service leave through your state or territory’s scheme
• A National Reciprocal Agreement exists between all schemes, allowing interstate work to count towards a worker’s long service leave.
What you need to do (these obligations are compulsory):
• Make sure your business is registered with your state or territory’s scheme
• Register your workers with the scheme, and report their service by the due date/s.
What are the benefits?
• Good workers are encouraged to stay in the industry by receiving access to benefits they might otherwise miss out on due to the nature of their work
• You won’t be out of pocket when your workers take long service, saving you money.
Find out about:
• Portable long service leave in your state by visiting Ausleave
MCFILLIN & PARTNERS NEWS
Hopley Bone Merger
On 9th August 2019, McFillin & Partners merged with Hopley Bone Accountants, an accountancy firm that was situated in Paddington. We extend a warm welcome all the Hopley Bone clients to our firm and look forward to assisting you with your business and accounting requirements.
We also would like to welcome and introduce the following Hopley Bone staff members who have also joined our firm. Accountants, David Saltzer and Tiani Mercer who both have over 10 years experience in Tax and Accounting and Receptionist, Andrea Gamble who joins our Admin Team.