sec.148CWorking out annual deduction for transitional financial year—employer other than the DGE for a group

### sec.148C Working out annual deduction for transitional financial year—employer other than the DGE for a group This section applies to an employer— who is required, under section 63 , to lodge an annual return for the transitional financial year; and who is not the DGE for a group on 30 June 2023. Despite section 29 , definition annual deduction , the annual deduction for the employer for the transitional financial year is the greater of zero and the amount worked out by adding the deduction (first half) and deduction (second half) for the employer. For subsection (2), the employer’s deduction (first half) is the amount worked out using the following formula— where— A means the number of days in the first half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. AW 1 means the amount of the employer’s annual wages that are paid or payable for the first half of the transitional financial year. B means the number of days in the second half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. C means the number of days in the transitional financial year. D 1 means the employer’s deduction (first half) in dollars. IW 1 means the amount of interstate wages paid or payable by the employer for the first half of the transitional financial year. K means 1,300,000. X see subsection (5). Also, for subsection (2), the employer’s deduction (second half) is the amount worked out using the following formula— where— A means the number of days in the first half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. AW 2 means the amount of the employer’s annual wages that are paid or payable for the second half of the transitional financial year. B means the number of days in the second half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. C means the number of days in the transitional financial year. D 2 means the employer’s deduction (second half) in dollars. IW 2 means the amount of interstate wages paid or payable by the employer for the second half of the transitional financial year. K means 1,300,000. X see subsection (5). For subsections (3) and (4), the amount for X is to be worked out using the following formula— where— AW means the amount of the employer’s annual wages for the transitional financial year. AW half means the amount of annual wages paid or payable by the employer— in relation to the deduction (first half)—for the first half of the transitional financial year; or in relation to the deduction (second half)—for the second half of the transitional financial year. IW means the amount of interstate wages paid or payable by the employer for the transitional financial year. IW half means the amount of interstate wages paid or payable by the employer— in relation to the deduction (first half)—for the first half of the transitional financial year; or in relation to the deduction (second half)—for the second half of the transitional financial year. In this section— annual wages see section 29 (1) . s 148C ins 2023 No. 18 s 29 (sec.148C-ssec.1) This section applies to an employer— who is required, under section 63 , to lodge an annual return for the transitional financial year; and who is not the DGE for a group on 30 June 2023. (sec.148C-ssec.2) Despite section 29 , definition annual deduction , the annual deduction for the employer for the transitional financial year is the greater of zero and the amount worked out by adding the deduction (first half) and deduction (second half) for the employer. (sec.148C-ssec.3) For subsection (2), the employer’s deduction (first half) is the amount worked out using the following formula— where— A means the number of days in the first half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. AW 1 means the amount of the employer’s annual wages that are paid or payable for the first half of the transitional financial year. B means the number of days in the second half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. C means the number of days in the transitional financial year. D 1 means the employer’s deduction (first half) in dollars. IW 1 means the amount of interstate wages paid or payable by the employer for the first half of the transitional financial year. K means 1,300,000. X see subsection (5). (sec.148C-ssec.4) Also, for subsection (2), the employer’s deduction (second half) is the amount worked out using the following formula— where— A means the number of days in the first half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. AW 2 means the amount of the employer’s annual wages that are paid or payable for the second half of the transitional financial year. B means the number of days in the second half of the transitional financial year for which the employer pays, or is liable to pay, wages, other than foreign wages. C means the number of days in the transitional financial year. D 2 means the employer’s deduction (second half) in dollars. IW 2 means the amount of interstate wages paid or payable by the employer for the second half of the transitional financial year. K means 1,300,000. X see subsection (5). (sec.148C-ssec.5) For subsections (3) and (4), the amount for X is to be worked out using the following formula— where— AW means the amount of the employer’s annual wages for the transitional financial year. AW half means the amount of annual wages paid or payable by the employer— in relation to the deduction (first half)—for the first half of the transitional financial year; or in relation to the deduction (second half)—for the second half of the transitional financial year. IW means the amount of interstate wages paid or payable by the employer for the transitional financial year. IW half means the amount of interstate wages paid or payable by the employer— in relation to the deduction (first half)—for the first half of the transitional financial year; or in relation to the deduction (second half)—for the second half of the transitional financial year. (sec.148C-ssec.6) In this section— annual wages see section 29 (1) . - (a) who is required, under section 63 , to lodge an annual return for the transitional financial year; and - (b) who is not the DGE for a group on 30 June 2023. - (a) in relation to the deduction (first half)—for the first half of the transitional financial year; or - (b) in relation to the deduction (second half)—for the second half of the transitional financial year. - (a) in relation to the deduction (first half)—for the first half of the transitional financial year; or - (b) in relation to the deduction (second half)—for the second half of the transitional financial year.