February 8, 2023
NSW Changes to Long Service Levy
Regulation and levy update
The Long Service Corporation (LSC) is pleased to announce the release of the:
- Building and Construction Industry Long Service Payments Regulation 2022, and
- Contract Cleaning Industry (Portable Long Service Leave Scheme) Regulation 2022.
The new regulations came into effect on 1 September 2022.
Key changes: Building and construction industry
- Raise the levy exemption threshold from $25,000 to $250,000 from 1 January 2023.
- Reduce the levy rate from 0.35% to 0.25% of the cost of works from 1 January 2023.
- Introduction of the Penalty Infringement Notice (PIN) schedule.
The delay with raising the levy exemption threshold and reducing the levy rate was to allow enough time to inform LSC customers and make necessary system changes.
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