
NSW cracking down on payroll tax avoidance
In an attempt to recover potentially foregone payroll tax revenue, the NSW government is set to introduce new laws aimed at companies that avoid their payroll tax obligations in relation to unpaid wages and other practices associated with tax avoidance or minimisation. Under the new legislation Revenue NSW will be able to name taxpayers who have avoided payroll tax and given the power to reassess payroll tax more than 5 years after the initial tax assessment. Penalties will also be increased to $55,000 or $110,000 for repeat offenders.