sec.12Election in annual return

sec.12 Election in annual return

An employer, who has made an election under subdivision 2 that continues to apply, may elect to include in returns actual value amounts and use those amounts to work out the employer’s relevant payroll tax and levy liabilities. An employer makes an election under subsection (1) by using a reconciliation amount to work out— the employer’s annual liability for a financial year; and if the employer is not a group member or is the DGE for a group—the employer’s annual levy liability for the financial year. If an employer makes an election under subsection (1) , the employer must include a reconciliation amount as part of the wages paid or payable by the employer— in the employer’s returns 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 for the financial year. An election under subsection (1) continues to apply until the employer elects, under subdivision 2 , to use estimated value amounts to work out the employer’s relevant payroll tax and levy liabilities. An election under subsection (1) applies for working out— periodic liability for the first periodic return period for the financial year immediately after the financial year in which the employer uses a reconciliation amount to work out the employer’s annual liability and, for an employer who is not a group member or is the DGE for a group, the employer’s annual levy liability; and all subsequent relevant liabilities for the employer while the election continues to apply. In this section— relevant liability , for an employer, means— if the employer is not a group member or is the DGE for a group—the employer’s periodic liability, annual liability, final liability, periodic levy liability, annual levy liability and final liability; or if the employer is a non-DGE group member—the employer’s periodic liability, annual liability, final liability and periodic levy liability. s 12 amd 2022 SL No. 168 s 11 (sec.12-ssec.1) An employer, who has made an election under subdivision 2 that continues to apply, may elect to include in returns actual value amounts and use those amounts to work out the employer’s relevant payroll tax and levy liabilities. (sec.12-ssec.2) An employer makes an election under subsection (1) by using a reconciliation amount to work out— the employer’s annual liability for a financial year; and if the employer is not a group member or is the DGE for a group—the employer’s annual levy liability for the financial year. (sec.12-ssec.3) If an employer makes an election under subsection (1) , the employer must include a reconciliation amount as part of the wages paid or payable by the employer— in the employer’s returns 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 for the financial year. (sec.12-ssec.4) An election under subsection (1) continues to apply until the employer elects, under subdivision 2 , to use estimated value amounts to work out the employer’s relevant payroll tax and levy liabilities. (sec.12-ssec.5) An election under subsection (1) applies for working out— periodic liability for the first periodic return period for the financial year immediately after the financial year in which the employer uses a reconciliation amount to work out the employer’s annual liability and, for an employer who is not a group member or is the DGE for a group, the employer’s annual levy liability; and all subsequent relevant liabilities for the employer while the election continues to apply. (sec.12-ssec.6) In this section— relevant liability , for an employer, means— if the employer is not a group member or is the DGE for a group—the employer’s periodic liability, annual liability, final liability, periodic levy liability, annual levy liability and final liability; or if the employer is a non-DGE group member—the employer’s periodic liability, annual liability, final liability and periodic levy liability.