The NSW Government has announced a 12-month pause on payroll tax audits.
The announcement refers to GPs and their practices and has been implemented to allow the state government an appropriate consultation period with GPs, the Royal Australian College of General Practitioners, and the Australian Medical Association to address concerns within the health industry.
It follows the recent Revenue NSW Payroll Tax Ruling in relation to medical practices issued two weeks ago (11 August 2023).
The decision also states there will be a 12-month pause on tax penalties and interest accrued on outstanding payroll tax debts incurred before and at the commencement of the 12-month period. The NSW Government also announced the creation of a new Special Commission of Inquiry to review healthcare funding in the state.
You can learn more about the recent NSW and VIC state Rulings and the exemptions that apply in our previous Payroll Tax Update.
If you would like to speak with one of our Medical Specialist Advisors regarding your potential payroll tax liability, please do not hesitate to contact us.
