Estimated Victorian wages

Purpose

Estimated Victorian wages, together with your estimated Australian wages, are used in conjunction with your employer type to:

  1. Determine your deduction entitlement, if any, that will be shown on the monthly returns in the following financial year.
  2. Determine a group's deduction entitlement that will be shown on the monthly returns issued to the designated group employer in the following financial year.
  3. Determine your estimated tax liability and, where appropriate, change your lodgement cycle from monthly to annual or vice versa. If you or your group's estimated liability is $10,000 or less, you may be eligible to be placed on an annual payment cycle.

If estimated Victorian and/or Australian wages are not provided, a monthly deduction cannot be calculated for those employers who would otherwise be entitled to claim a deduction on their monthly returns. Consequently the deduction shown in Lodge a Monthly Return will be NIL.

Assistance

If you need further information on this topic, please contact our payroll tax enquiry service on 13 21 61.