The New South Wales (NSW) Treasurer, The Hon. Dominic Perrottet MP, announced the following changes to State taxes and grants as part of the 2018 State Budget.
Payroll tax thresholds are to rise from the current level of $750,000. From 2018-19 the threshold will be $850,000 a year, rising to $900,000 in 2019-20, $950,000 in 2020-21 and $1 million in 2021-22.
From 1 January 2019, the NSW Government will introduce a 10 per cent point of consumption (PoC) tax on wagering. There will be a tax-free threshold of $1.0 million per year for all operators.
The tax will be applied to all bets, including bets New South Wales residents place with interstate wagering operators online or by phone. Under a PoC tax, revenue is collected according to where the customer is, rather than where the wagering operator is based. This measure is expected to raise $40.0 million in 2018-19 and $315.0 million in the three years to 2021-22.