Two key changes have come in to effect for NSW Long Service Levy payments
โฅ ๐๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ ๐๐ผ ๐น๐ฒ๐๐ ๐ฒ๐ ๐ฒ๐บ๐ฝ๐๐ถ๐ผ๐ป ๐๐ต๐ฟ๐ฒ๐๐ต๐ผ๐น๐ฑ
The levy exemption threshold has increased from $25k to $250k (incl. GST), meaning a levy payment is no longer required where the cost of construction work is less than $250k, reducing costs for smaller scale projects such as fitouts.
โฅ ๐ฅ๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป ๐ถ๐ป ๐๐ผ๐ป๐ด ๐ฆ๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ ๐๐ฒ๐๐ ๐ฟ๐ฎ๐๐ฒ ๐ฝ๐ฎ๐๐ฎ๐ฏ๐น๐ฒ
The levy rate payable will reduce from 0.35% to 0.25%.
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