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Payroll tax is a general purpose tax assessed on the wages paid by an employer in Western Australia. The tax is self-assessed in that the employer calculates the liability and then pays the appropriate amount to the Office of State Revenue, by way of a monthly, quarterly or annual return. From 1 July 2014: [32] The rate of payroll tax is 5.5%.
The low and middle income tax offset (LMITO) is a separate and temporary tax rebate introduced by the Morrison government in July 2019 and is available for the 2018–19, 2019–20, 2020–21 and 2021–22 income years only. [13] [15] The maximum amount of LMITO is $1,080, and the offset cuts out when taxable income reaches $126,000. Like the ...
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their employees. [1] By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is ...
Victoria v Commonwealth. (1971) Victoria v Commonwealth (1971) 122 CLR 353, commonly referred to as the Payroll Tax Case, was a case decided in the High Court of Australia regarding the scope of the Commonwealth's taxation power and the extent to which it can burden a state's structural integrity.
The Treasurer of Victoria is the title held by the Cabinet Minister who is responsible for the financial management of the budget sector in the Australian state of Victoria. This primarily includes: [1] preparation and delivery of the annual State Budget; revenue collection for Victoria, including stamp duty, payroll tax, financial institutions ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
In Australia, a fringe benefit is a payment to an employee that is not considered part of the employee's income. Fringe benefits can be given to current, former, or future employees or a member of their family, a trustee, or a director. [3] The tax is paid by the employer only, and is not expected to be paid by the employee.
In 2023, Australia's labour force was 14.2 million, with 1.4 million trade union members, an average annual income of $72,753, 3.8% unemployment and 6.4% underemployment. [1] Australian labour law sets the rights of working people, the role of trade unions, and democracy at work, and the duties of employers, across the Commonwealth and in states.