Definitions
1 Definitions
In this Schedule—
financial year means the financial year commencing on 1 July 2007 or on 1 July in any subsequent financial year.
FY is the number of days in the financial year.
R is—
6% until 1 January 2009, and
5.75% on and from 1 January 2009 until the end of 31 December 2009, and
5.65% on and from 1 January 2010 until the end of 30 June 2010, and
5.5% on and from 1 July 2010 until the end of 31 December 2010, and
5.45% on and from 1 January 2011 until the end of 30 June 2020, and
4.85% on and from 1 July 2020 until the end of 30 June 2022, and
5.45% on and from 1 July 2022.
relevant financial year means the financial year to which the calculation of the relevant payroll tax relates.
TA or threshold amount is—
$600,000 for a financial year before the financial year commencing on 1 July 2008, or
for the financial year commencing on 1 July 2008 and subsequent financial years up to and including the financial year commencing on 1 July 2012—the threshold amount for that financial year determined in accordance with clause 1A, or
for the financial year commencing on 1 July 2013 and subsequent financial years up to and including the financial year commencing on 1 July 2017—$750,000, or
for the financial year commencing on 1 July 2018—$850,000, or
for the financial year commencing on 1 July 2019—$900,000, or
for the financial year commencing on 1 July 2020 and subsequent financial years—$1,200,000.
(Repealed)
This Act’s bill:Explanatory memorandumSecond reading speech
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