Name of the Organization : State Revenue Office Victoria
Type of Facility : Pay Payroll Tax
Country : Australia
Website : http://www.sro.vic.gov.au/payroll-tax
Pay Payroll Tax :
** Payroll Tax is a State tax calculated on wages paid or payable by an employer to its employees and deemed employees and applies in all States and Territories of Australia.
Related : SRO State Revenue Office Victoria Unclaimed Money Search : www.statusin.org/7042.html
** In Victoria, it is currently payable at the rate of 4.85 per cent.
Who has to pay payroll tax?:
** Payroll tax is payable when an employer’s (or ‘group of employers’) total Australian wages exceeds the general deduction threshold level. An employer’s Australian wages comprise its Victorian wages and all interstate wages. In Victoria, payroll tax is payable on the Victorian wages component.
** Most employers are required to self-assess their liability on a monthly basis, and all perform an annual reconciliation at the end of each financial year (by 21 July).
** Employers who pay wages in Victoria must register for payroll tax if during any one month, their total Australian wages exceed the relevant monthly deduction threshold level. If an employer is a member of a group, it must register for payroll tax if during any one month, the group’s total Australian wages exceed the relevant monthly deduction threshold level.
When is payroll tax payable?:
** Employers must register with the SRO and pay tax by the seventh day of the month following the month in which their wages exceeded the deduction threshold level. Penalty tax and interest may be payable on any unpaid tax if an employer who is liable for payroll tax fails to register. Registration must be completed electronically via the ‘Register for payroll tax’ link on the ‘PTX Express’ Overview page.
** Once your registration has been submitted, the SRO will confirm your registration and provide information on how to access ‘PTX Express’.
What payments are included as wages?:
The definition of wages is broad – encompassing everything from bonuses to termination payments. Wages can be divided into two groups: taxable or exempt wage components.
A superannuation contribution is included as wages under the Payroll Tax Act 2007. This means that all employer superannuation contributions made for employees or deemed employees are taxable.
Do I need WorkSafe injury insurance?:
If you engage workers or contractors deemed to be workers and you pay, or expect to pay, more than the current threshold limit per year in rateable remuneration as defined in the Workplace Injury Rehabilitation and Compensation Act 2013 or if you engage apprentices or trainees, you must register for WorkCover Insurance. Please go to the VWA web site for more information.
It is important to note that there are a number of definitional differences between ‘wages’ for payroll tax purposes and ‘remuneration’ for WorkCover insurance purposes. Please visit the VWA web site for more information about remuneration.
Useful Resources:
For assistance with employment processes, including workshops and templates, visit the Business Victoria website
Employers who also pay wages outside of Victoria may wish to visit www.payrolltax.gov.au for access to harmonised payroll tax documentation, legislation, state and territory contacts and education opportunities.