sec.10Election in first periodic return period for relevant financial year

sec.10 Election in first periodic return period for relevant financial year

The employer may elect to include in returns estimated value amounts and use those amounts to work out the employer’s prelevant payroll tax and levy liabilities. The employer makes an election under subsection (1) by using an estimated value amount to work out the employer’s periodic liability and periodic levy liability for the first periodic return period for the relevant financial year. An election under subsection (1) continues to apply until the employer elects, under subdivision 3 , to use actual value amounts to work out the employer’s relevant payroll tax and levy liabilities. If an election under subsection (1) applies to the employer on 30 June in the relevant financial year or a later financial year, the employer must include an estimated value amount as part of the wages paid or payable during that year by the employer— in the employer’s annual return for the financial year; and if the employer is a non-DGE group member—in the information given to the DGE under section 88A (5) of the Act in relation to the financial year. An election under subsection (1) applies for working out— periodic liability and periodic levy liability for the periodic return period mentioned in subsection (2) ; and all subsequent relevant payroll tax and levy liabilities for the employer while the election continues to apply. s 10 amd 2022 SL No. 168 s 9 (sec.10-ssec.1) The employer may elect to include in returns estimated value amounts and use those amounts to work out the employer’s prelevant payroll tax and levy liabilities. (sec.10-ssec.2) The employer makes an election under subsection (1) by using an estimated value amount to work out the employer’s periodic liability and periodic levy liability for the first periodic return period for the relevant financial year. (sec.10-ssec.3) An election under subsection (1) continues to apply until the employer elects, under subdivision 3 , to use actual value amounts to work out the employer’s relevant payroll tax and levy liabilities. (sec.10-ssec.4) If an election under subsection (1) applies to the employer on 30 June in the relevant financial year or a later financial year, the employer must include an estimated value amount as part of the wages paid or payable during that year by the employer— in the employer’s annual return for the financial year; and if the employer is a non-DGE group member—in the information given to the DGE under section 88A (5) of the Act in relation to the financial year. (sec.10-ssec.5) An election under subsection (1) applies for working out— periodic liability and periodic levy liability for the periodic return period mentioned in subsection (2) ; and all subsequent relevant payroll tax and levy liabilities for the employer while the election continues to apply.

• (a) in the employer’s annual return for the financial year; and