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NSW announces payroll tax relief for new jobs

A $250 million job funding program featuring zero payroll tax for up to four years has been announced by the New South Wales government as it looks to lure businesses to the state.

Tax&Compliance Jotham Lian 06 November 2020
— 1 minute read

NSW Premier Gladys Berejiklian believes the Jobs Plus Program will create or support up to 25,000 jobs to 30 June 2022 by incentivising companies to relocate their head offices to NSW or expand their jobs footprint in the state.

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A key feature of the program will see businesses that create at least 30 new net jobs will receive payroll tax relief up to a four-year period.

Other elements of the program will include access to state government assistance and training programs, and access to free or subsidised government spaces and accommodation.

The Jobs Plus Program will commence on 15 December 2020 and conclude on 30 June 2022. 

“The challenges NSW has faced as a result of the triple crises of drought, bushfires and COVID-19 have given us an opportunity to change our approach and refocus on creating jobs for the future,” Ms Berejiklian said.

“NSW is the nation’s economic powerhouse and Jobs Plus will entice top-performing companies from interstate and across the globe to NSW, and cements this state as the best place to do business in Australia.”

Business Council of Australia chief executive Jennifer Westacott welcomed the announcement and urged other states and territories to consider undertaking similar measures.

“NSW has firmly positioned itself as the best place to do business in Australia and every premier and chief minister in the country should be taking note,” Ms Westacott said.

“Payroll tax is a tax on jobs, so payroll tax relief and removing investment-stifling red tape makes sense. We also welcome critical investment in programs to give workers in NSW access to the new skills they’ll need to get jobs in new industries.

“There is a reason NSW has single-handedly kept the east coast economy on track — the state has never lost sight of the need to emerge from the pandemic with a stronger economy and the capacity to create thousands of new jobs and a sense of hope and optimism.”

NSW announces payroll tax relief for new jobs
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Jotham Lian

Jotham Lian

Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.

Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.

You can email Jotham at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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