Vic payroll tax: reduced penalty for voluntary disclosure of payments to private security industry licensees as exempt ends after 30.11.14 [78]

The Victorian State Revenue Office (SRO) has reminded employers of holders of private security individual operator licences that the voluntary disclosure period is nearing its end. In September 2014, the SRO issued Payroll Tax Bulletin PTX1/14 which offers employers a reduced rate of penalty tax if they voluntarily disclose on or before 30 November 2014 that they have classified payments to holders of private security individual operator licences as payments to contractors that are exempt from payroll tax. The SRO warned that penalty tax at the standard rate will apply if the Commissioner of State Revenue (Vic) finds that there has been non-compliance as a result of an investigation commenced by the Commissioner from 1 December 2014.

[LTN 230, 27/11/14]