Definitions & Acronyms

... for the financial year concerned is– 

(a) the total reasonable amount for daily travel allowance expenses using the lowest capital city for the lowest salary band for the financial year determined by the Commissioner of Taxation of the Commonwealth; or

(b) if no determination referred to in paragraph (a) is in force, the rate prescribed by the regulations.

The ATO determination for the 2021-22 financial year is TD2021/6, Table 1.

... wages that are declared by or under Payroll Tax legislation to be exempt wages.

The threshold is the value that an employer or group of employers' wages must exceed before they need to register with us for payroll tax. The threshold amounts and criteria for registration differ in each state and territory.

... includes perform a duty.

...the Fringe Benefits Tax Assessment Act 1986 of the Commonwealth.

Payments which are liable as a fringe benefit for fringe benefits tax are also considered to be taxable wages for payroll tax returns.

In a final period, the difference between the amount of payroll tax an employer has to pay in that period and the sum of the amounts they paid in periodic returns during that period is their final liability.

If a business has a change of status, a return is due for the final period, which starts on the latest of 1 July, when the employer registered or the last time such an event happened. The final period ends the day before the relevant change occurs.

If a business changes its status, a final return must be submitted - even if it is outside the normal return period - to pay outstanding amounts or get a refund.

Each year commencing on 1 July and ending 30 June.

An employer who is the DGE of a group, or is not in a group but pays interstate wages, can calculate a fixed periodic deduction for specified return periods.

The same meaning as in the FBTA Act but does not include:

(a) a tax-exempt body entertainment fringe benefit within the meaning of that Act; or

(b) anything that is prescribed by the regulations under this Act not to be a fringe benefit for the purposes of this definition.

A non-monetary benefit that an employer gives an employee in return for their services. The value of these benefits needs to be included in an employer’s taxable wages.

A power, authority or duty.

When a person acquires a share or option in a company, the share or option is granted to the person.

Section 13O of the Payroll Tax Act (Qld) outlines when a share or option is granted.

The value of a fringe benefit after the initial value has been multiplied by the type 2 gross-up factor specified in the Fringe Benefits Tax Assessment Act 1986 (Cwlth).