Search results
Results from the WOW.Com Content Network
Employers, or a group of related businesses, whose total Australian wages exceed the current NSW monthly threshold, are required to pay NSW payroll tax. Each monthly payment or 'nil' remittance is due seven days after the end of each month or the next business day if the seventh day is a weekend (i.e. August payment is due by 7 September).
Goods and Services Tax [1] (GST) in Australia is a value added tax of 10% on most goods and services sales, with some exemptions (such as for certain food, healthcare and housing items [2]) and concessions (including qualifying long term accommodation which is taxed at an effective rate of 5.5% [3]). GST is levied on most transactions in the ...
NSW EVs and FCEVs under $78,000 stamp duty exempt for saving of between $1,200 to $18,000 [54] [55] [63] [93] [101] [102] Cars emitting less than 150 grams of CO 2 per kilometre receive motor tax concessions [80] Stamp duty exempt for all other EVs and plug-in hybrids from 1 July 2027, or when EVs make up at least 30% of new car sales. [103]
South Australia was the first Australian state to introduce a land tax, based on the unimproved capital value of land, in 1884. [6] [7] In 1910, George Allen (first secretary to the Treasury) founded the Land Tax Office to service land taxes at the federal level as a form of wealth tax and as a means to break up large tracts of underutilised land.
The agency helps to develop policy, implement legislation, collect revenue, process and enforce outstanding fines and penalties. It administers state taxation laws, including the Land Tax Act 1956, Payroll Tax Act 2007 and the Stamp Duties Act 1920. In 2016–2017, Revenue NSW collected more than A$ 29.4 billion in revenue. [3]
Since coming into office the party has officially achieved two election commitments: [44] enshrining Sydney Water and Hunter Water as permanent public institutions via a Constitutional amendment; [45] raising the stamp duty exemption threshold for first-home buyers from $650k to $800k. [46]
This has created significant debate as to the validity of other State taxation schemes, such as in the recent trend for States to extend stamp duty to certain dealings in goods. [20] In 2023, in the case of Vanderstock v Victoria the court ruled that a tax per kilometres driven for electric vehicles was an excise and therefore invalid.
Stamp Duty Land Tax" (SDLT), a new transfer tax derived from stamp duty, was introduced for land and property transactions from 1 December 2003. SDLT is not a stamp duty, but a form of self-assessed transfer tax charged on "land transactions". On 24 March 2010, Chancellor Alistair Darling introduced two significant changes to UK Stamp Duty Land ...