Definitions

In force

In this Part—

Sch. 2 cl. 1A def. of APT or annual phase out threshold inserted by No. 18/2023 s. 77(a).

APT or annual phase out threshold has the same meaning as in clause 1 of Schedule 1;

Sch. 2 cl. 1A def. of base deductible amount or BDA amended by No. 18/2023 s. 77(b).

base deductible amount or BDA means—

(a)

for a month in the financial year commencing on 1 July 2016—$47 916;

(b)

for a month in the financial year commencing on 1 July 2017—$52 083;

(c)

for a month in the financial year commencing on 1 July 2018, 2019 or 2020—$54 166;

(d)

for a month in the financial year commencing on 1 July 2021, 2022 or 2023—$58 333;

(e)

for a month in the financial year commencing on 1 July 2024—$75 000;

(f)

for a month in the financial year commencing on 1 July 2025 and each subsequent financial year—$83 333;

Sch. 2 cl. 1A def. of COVID-19 debt temporary payroll tax surcharge inserted by No. 18/2023 s. 66.

COVID-19 debt temporary payroll tax surcharge has the same meaning as in clause 1 of Schedule 1;

D is—

(a)

in the case of an employer who is not a member of a group, the deductible amount referred to in clause 5 or 6 (as the case requires); or

(b)

in the case of an employer who is a member of a group, the deductible amount referred to in clause 9 or 10 (as the case requires);

EIW is—

(a)

in the case of an employer who is not a member of a group, the estimated interstate wages payable by the employer in the financial year in which D will be applied; or

(b)

in the case of an employer who is a member of a group, the estimated interstate wages payable by a group in the financial year in which D will be applied;

ETW is—

(a)

in the case of an employer who is not a member of a group, the estimated taxable wages payable by the employer in the financial year in which D will be applied; or

(b)

in the case of an employer who is a member of a group for which there is a designated group employer, the estimated taxable wages payable by the group in the financial year in which D will be applied;

mental health and wellbeing surcharge has the same meaning as in clause 1 of Schedule 1;

Sch. 2 cl. 1A def. of PR or phase out rate inserted by No. 18/2023 s. 77(a).

PR or phase out rate has the same meaning as in clause 1 of Schedule 1;

R is the applicable rate of tax referred to in clause 2.

Sch. 2 cl. 1B inserted by No. 18/2023 s. 67.

This Act’s bill:Explanatory memorandum Second reading speech

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1A Definitions