The Victorian State Revenue Office has updated information in regard to payroll tax payments as a response to the current COVID-19 outbreak and lockdown.
Those employers that did defer 2020/21 liabilities must still pay the first quarterly instalment by 7 September 2021.
Some employers including a payroll up to $10m, were eligible to have their 2021/21 payroll tax deferred to 2021/22. Those deferred payments based on the 2020/21 reconciliation are due in the following schedule of instalments:-
- At least 25% by 7 September 2021
- At least 50% by 7 December 2021
- At least 75%b by 7 March 2022
- Any balance due by 7 June 2022
Employers that failed to lodge the annual reconciliation by the 27 August 2021 date, are not eligible for deferrals. Payments for any payroll tax owing are required immediately.
For the full details from the State Revenue Office and additional information please refer to https://www.sro.vic.gov.au/coronavirus-payroll-tax-relief
I continue to stay across Government support in relation to payroll tax and will advise as any further measures are announced.
Peter Tobin, Tobin Partners Lawyers firstname.lastname@example.org 0438 001 809