The Victorian Government has announced additional payroll tax relief to support businesses and jobs who are facing challenges given the effects of COVID – 19.
Employers must pay a minimum of $1500 a fortnight to eligible employees, in order to qualify for JobKeeper payments.
The Victorian Government has now ensured that the additional payments employers make to their employees in an effort to bridge the gap between their normal wage and the $1500, will be exempt from payroll tax. For employees who have been stood down, the full $1500 payment is exempt.
The additional payments are not included in rateable remuneration for the purposes of calculating WorkCover Premiums. For more information, visit worksafe.vic.gov.au.
More information about this emergency tax relief measure is available at sro.vic.gov.au/coronavirus.
Eligibility requirements for JobKeeper payments are available on the Australian Taxation Office website.