Victoria Adds Payroll Tax Surcharge, Increases Threshold

Amendments to the Australian state of Victoria’s payroll tax act that received royal assent June 27 add a surcharge for larger employers and increase the taxable wage threshold in 2024 and 2025.

The State Taxation Acts Amendment Act 2023 adds a Covid-19 debt surcharge for larger employers effective July 1, 2023, and continuing for 10 years until July 1, 2033, Victoria’s State Revenue Office said in a news release. The surcharge uses the same thresholds and rates as the state’s mental health surcharge. Employers that pay more than A$10 million (US$6,688,949.70) and up to A$100 million in Australian wages ...