Payroll of employer over threshold
5 Payroll of employer over threshold
If the total taxable wages and interstate wages paid or payable by an employer (otherwise than as a member of a group) during a financial year is more than the employer's threshold amount, the employer is liable to pay as payroll tax for that year the amount of dollars calculated in accordance with the following formula—
where ND is the lesser of the following amounts—
the amount calculated in accordance with the following formula—
the amount calculated in accordance with the following formula—
where S is—
if the total taxable wages and interstate wages paid or payable by the employer (otherwise than as a member of a group) during the relevant financial year is not more than the first surcharge threshold amount—zero; or
if the total taxable wages and interstate wages paid or payable by the employer (otherwise than as a member of a group) during the relevant financial year is more than the first surcharge threshold amount, but not more than the second surcharge threshold amount, the amount calculated in accordance with the following formula—
; or
if the total taxable wages and interstate wages paid or payable by the employer (otherwise than as a member of a group) during the relevant financial year is more than the second surcharge threshold amount, the amount calculated in accordance with the following formula—
For the purposes of subclause (1), if the amount calculated in accordance with the formula in paragraph (a) of the definition of the variable ND is an amount that is less than zero, the amount is taken to be zero.
This Act’s bill:Explanatory memorandumSecond reading speech
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