Amount of payroll tax to be paid each month
12 Amount of payroll tax to be paid each month
The amount of payroll tax payable by each member of the group on taxable wages paid or payable by the member in a month is the amount of dollars calculated in accordance with the following formula—
where—
S is—
if the total ETW and EIW for the group in the financial year in which D will be applied is not more than $10 million—zero; or
if the total ETW and EIW for the group in the financial year in which D will be applied is more than $10 million but not more than $100 million, the amount calculated in accordance with the following formula—
; or
if the total ETW and EIW for the group in the financial year in which D will be applied is more than $100 million, the amount calculated in accordance with the following formula—
TW represents the total taxable wages paid or payable by the employer concerned (as a member of the group) during the relevant month.
This Act’s bill:Explanatory memorandumSecond reading speech
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