Long Service Levy Changes Have Commenced

Two key changes have come in to effect for NSW Long Service Levy payments

◥ 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝘁𝗼 𝗹𝗲𝘃𝘆 𝗲𝘅𝗲𝗺𝗽𝘁𝗶𝗼𝗻 𝘁𝗵𝗿𝗲𝘀𝗵𝗼𝗹𝗱

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.

◥ 𝗥𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝗟𝗼𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗟𝗲𝘃𝘆 𝗿𝗮𝘁𝗲 𝗽𝗮𝘆𝗮𝗯𝗹𝗲

The levy rate payable will reduce from 0.35% to 0.25%.

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