The WA Office of State Revenue (OSR) has reminded taxpayers that from 1 July 2016, the annual payroll tax threshold will change from $800,000 to $850,000. The diminishing threshold will be calculated on annual wages between $850,000 and $7.5m. The tapering value used to calculate the deductable amount will change from 8/67 (0.199) to 17/133 (0.128). The OSR said practically this means for every $133 over the threshold, taxpayers will lose $17 of their deductable amount. For a local non-group employer with annual gross wages of $1m, the estimated payroll tax liability would change from $12,313.46 to $9,304.51.
[WA OSR eNews, April 2016] [LTN 66, 8/4/16]