The Palaszczuk government’s new mental health levy will hit big companies that have an annual wages bill of more than $10 million.
Amid ongoing fallout from thethat will raise $2.6 billion over the next four years, Mr Turner said most companies already put significant resources into their own mental health initiatives.
Companies with a wages bill of more than $10 million will pay a 0.25 per cent levy on top of the existing payroll tax. The levy increases to 0.75 per cent for companies who have more than $100 million a year in wages.that is expected to raise $843 million a year or about $3.7 billion by June 2026.Business Council of Australia chief executive Jennifer Westacott hit out at the new impost, saying any extra levy on payroll tax was a “tax on jobs”.
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