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09 Oct 2020

Western Australian State Budget Revenue Measures 2020

By Michelle Pham

Changes to payroll tax, and tax and the off-the-plan transfer duty rebate scheme all feature in this year's WA Budget.

The Western Australia State budget was delivered on 8 October 2020 and despite the pandemic, the Government was able to forecast a budget surplus for the 2020-21 financial year. The revenue measures announced in the budget have largely been implemented as part of the COVID-19 Recovery Plan, aimed at driving Western Australia's economic and social recover. These measures include:

  • The increase in the payroll tax exemption threshold to $1 million was brought forward to 1 July 2020 (from the previously planned date of 1 January 2021)
  • Legislation was passed to exempt the JobKeeper payment from payroll tax
  • A payroll tax waiver was available from 1 March 2020 to 30 June 2020 for businesses which are employers (or groups of employers) with annual Australian taxable wages of less than $7.5 million
  • One-off payroll tax grants of $17,500 were handed out to eligible businesses which are employers (or groups of employers) with annual Australian taxable wages of more than $1 million and less than $4 million
  • The 75% off-the-plan transfer duty rebate scheme for purchases in multi-tiered developments already under construction (capped at $25,000) has been extended to contracts entered into between 4 June 2020 to 31 December 2020. The rebate is also available for pre-construction contracts to purchase a new residential unit or apartment entered into between 23 October 2019 to 23 October 2021 (capped at $50,000)
  • The Land Tax Assistance for Landlords Program has been extended with a new qualifying period between 1 September 2020 and 31 December 2020. This program gives landlords who provide rent relief to their small business tenants a grant to assist with their land tax obligations.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.