Amount payable for whole of financial year
3 Amount payable for whole of financial year
For the purposes of this Part, the payroll tax that would be payable by an employer for the whole of a financial year is to be ascertained on the basis of the following assumptions—
the assumption that the employer pays or is liable to pay taxable wages for the whole of the financial year,
the assumption that the total amount of taxable wages paid or payable by the employer during the financial year is a multiple (equivalent to the ratio of the number of days in the financial year to the number of days to which the return relates) of the taxable wages paid or payable by the employer during the period to which the return relates.
This Act’s bill:Explanatory memorandumSecond reading speech
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