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Payroll Tax Rates

What is Payroll Tax? Payroll tax is a tax imposed by states and territories in Australia. It applies to the employer or a group when the wages paid or payable to its employees surpasses the threshold amount. What are the prevailing Payroll Tax rates and thresholds? The following table elaborates the Payroll tax and thresholds applicable in different Australian states and territories. Sr. No. State / Territory Rate Threshold (Monthly) Threshold (Annually) 1. Australian Capital Territory 6.85% $154,166.66 $1,850,000 2. New South...

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What is PAYG Tax? PAYG Tax stands for Pay As You Go tax. As the name suggests this system allows individuals and businesses to pay their expected taxes in advance and as instalments. As and when the employees receive payments during an income year, as per their tax liabilities the employer can withhold the taxes. Along with the income tax it is used to collect superannuation funds, medicare payments and Higher Education Loan Program repayments. Is PAYG Tax the same as PAYE Tax? In the year 2000 this system replaced the Pay As You Earn...

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Australian Tax

How does Tax System work in Australia? In Australia the individuals and companies pay variety of taxes and charges at multiple levels ay state, federal and local levels. Amongst the significant ones is the income tax that is collected by the government through the ATO (Australian Taxation Office). Then there is the GST (Goods and Services Tax) that is levied on the transactions that are a part of the production process. What is Payroll Tax? In Australia payroll tax rates and thresholds apply in its various states and territories. This tax...

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