Estimated Victorian wages
Purpose
Estimated Victorian wages, together with your estimated Australian wages, are used in conjunction with your employer type to:
- Determine your deduction entitlement, if any, that will be shown on the monthly returns in the following financial year.
- 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.
- 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.
