1. If you employ for part of the financial year or in more than one state or territory, your deduction/threshold entitlement may be reduced. In some states and territories the deduction/threshold entitlement may reduce as wages paid increase.

2. The lower 1.2125% rate applies to business where at least 85% of their Victorian payroll goes to regional employees.

3. 4.75% $6 500 000 or less, 4.95% more than $6 500 000. Regional employers may be entitled to a 1% discount on the rate
   until 30 June 2023.

   From 1 January 2023, a mental health levy will apply to employers and groups of employers who pay more than $10 million in annual Australian taxable wages.

   – Additional 0.25% (primary rate) more than $10 million (primary threshold).
   – Additional 0.25% (primary rate) + 0.5% (additional rate) more than $100 million (additional threshold).

   For the 2022–23 financial year, the thresholds are adjusted to accommodate the levy commencing during the financial year.

4. A reduced rate of 4% applies for taxable wages between $1.25 million and $2 million per annum. An exemption applies for certain wages paid by an interstate business that has relocated to regional Tasmania.

5. 0% to 4.95% Exceeds $1 500 000 but not $1 700 000, 4.95% Exceeds $1 700 000

   
   

6. From 1 July 2023, the payroll tax rate is 5.5% on the taxable wages paid by employers or groups of employers. A diminishing threshold will apply for employers or groups of employers with annual taxable wages in Australia between $1 million and $7.5 million.
   

The facts and figures outlined in this tax summary are current as at 15 June, 2023