Long Service Levy news

In positive news for the NSW construction industry, two key changes will come in to effect for Long Service Levy payments from 1 January 2023:

𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝘁𝗼 𝗹𝗲𝘃𝘆 𝗲𝘅𝗲𝗺𝗽𝘁𝗶𝗼𝗻 𝘁𝗵𝗿𝗲𝘀𝗵𝗼𝗹𝗱

The levy exemption threshold will increase from $25,000 to $250,000 (incl. of GST), meaning a levy payment is not required where the cost of construction work is below $250,000 meaning smaller scale projects such as fitouts may not be required to pay the Levy

𝗥𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝗟𝗼𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗟𝗲𝘃𝘆 𝗿𝗮𝘁𝗲 𝗽𝗮𝘆𝗮𝗯𝗹𝗲

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

Trying to keep on top of the seemingly endless list of regulatory changes and compliance requirements? Save your sanity and follow Code Consultancy Group

#construction #compliance #regulations #buildingregulations