Payroll Tax: Pay It!

Payroll Tax: Pay It!

Account Daily’s article warns business owners of the increased penalties associated with avoiding payroll tax payments. Points to note from the article are as follows:

  • Penalties to increase by 400%

  • Penalties include jail time and fines of up to $110,000.

  • Revenue NSW may ‘name and shame’ offending businesses. This information is to be made available to Fair Work in supporting wage theft investigations.

  • Penalties will apply to those disposing of, falsifying, or poorly keeping their records.

  • Second-time offenders found avoiding payroll tax will incur harsher penalties.

The government is also calling for the establishment of a national framework to thwart wage theft.

Read the article

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