Liability calculation

The calculation to determine the 2023-24 liability is:

Gross Taxable Victorian Wages – Deduction = Net Victorian Wages
Net Victorian Wages X  payroll tax rate = 2023-24 liability

Example

A full year Victorian only employer with $850,000 wages for the period 1 July 2023 to 30 June 2024.

Deduction: $700,000

Non regional tax rate: 4.85%

$850,000 - $700,000 = $150,000 Net Victorian Wages
Net Victorian Wages $150,000 X 4.85% = $7,275 liability