NSW Budget 2018/19

The New South Wales Treasurer, Mr Dominic Perrottet, handed down the NSW Budget for 2018/19 on 19 June 2018. The only tax-related measure announced in the Budget was an increase in the tax-free threshold for payroll tax from its current level of $750,000 to $1 million.

From 1 July 2018, the tax-free threshold for payroll tax will increase from $750,000 to $850,000. It will continue to increase by $50,000 every year until 2021/22 when it will be $1 million.

Therefore, the threshold will be:

  • $850,000 in 2018/19,
  • $900,000 in 2019/20,
  • $950,000 in 2020/21 and
  • $1m in 2021/22.