Recent tax developments from the Northern Territory and New South Wales (NSW) include:
- Northern Territory: The government announced that it will introduce changes to its payroll tax for businesses with wage bills of up to $7.5 million* from 2025. The payroll tax will also be reduced for businesses with between $2.5 million and $7.5 million in wage bills from July 1, 2025.
- New South Wales: The government’s bill to amend certain revenue legislation, which includes addressing the duty and land tax treatment applicable to corporate collective investment vehicles (CCIVs), has passed the state’s Legislative Assembly without amendments. The bill is now with the NSW Parliament’s Legislative Council.
*$=Australian dollar