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  • Changes to tax withholding amounts

    14 July 2017

    The way tax is calculated on salary and wages has changed and may affect you as an employer.

    From 1 July 2017 the:

    • temporary budget repair levy has been removed
    • Medicare levy low-income threshold increased.

    What does this mean for you as an employer?

    New tax tables taking into account these changes are now available for you to download or ask your payroll software provider for the relevant update.

    These tables apply to amounts withheld from payments made after 30 June, 2017.

    Did you have employees this financial year?

    Remember, if you hired employees during the last financial year, you must:

    • have issued payment summaries to employees by 14 July 2017
    • lodge your payment summary annual report by 14 August 2017.

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