The Victorian Treasurer, Tim Pallas, handed down the State budget on 20 May 2021 that included changes to Payroll Tax, Land Tax and Stamp Duty that will affect a range of Victorian business and investors. The key changes are summarised below. Payroll Tax The key changes for Victorian Payroll Tax; The Tax-free threshold will increase…
There are a few changes and developments coming to Superannuation Guarantee which all employers and employees need to be aware of. Rate of Superannuation Guarantee increases to 10% Effective from 1 July 2021, the minimum rate of Superannuation Guarantee will increase from 9.5% to 10% of an employee’s ordinary time earnings. Superannuation Guarantee does not…
The Victorian Government announced on 27 May 2021 the “Circuit Breaker Business Support Package” to assist small to medium business, including sole traders, who were unable to operate due to the Circuit Breaker lockdown. This package was further extended on 2 June 2021 following the week extension of the Circuit Breaker lockdown. Eligible businesses will…