Annual cycle

Description

Customers on an annual payment cycle lodge payroll tax returns once a year via the electronic Annual Reconciliation (e-AR) rather than every month.

Basis

Every employer registered for payroll tax in Victoria must pay tax every month unless the Commissioner of State Revenue gives approval to pay tax annually. The Commissioner will generally approve this only if the tax payable for the previous financial year and the estimated tax payable in the following financial year is less than $10,000. If approved, the employer will only lodge an annual reconciliation return. The Commissioner will retain the right to review the employer's lodgement and payment cycle at any time.

Assistance

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