The broking industry has passed the first hurdle in its battle to have the law clarified to ensure that payroll tax is not levied against the commission of brokers. Revenue NSW has confirmed that it will not commence any new audits on aggregators until a court case scheduled to commence in May has been heard.
The MFAA, FBAA, AFG and other aggregators have met regularly with all sides of government and Revenue NSW to voice concerns that this tax, if applied, will be harmful to the industry. Thousands of brokers in NSW and across the country have also rallied together to send letters to NSW state politicians outlining concerns and requesting a moratorium until there is certainty for the industry.
With the election campaign now completed, Premier-elect The Hon Chris Minns MP and his new Labor government are expected to make good on their commitment to engage with the industry to review payroll tax requirements and ensure they are transparent and clear.
With Labor expected to form a minority government, it will also be important for the industry seek commitments from Independent and Liberal MPs who will make up the new parliament.