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Tasmanian State Budget 2013-14The 2013-14 State Budget (delivered 23 May 2013) announced three measures administered by the State Revenue Office. These are subject to the passage of legislation. Increase in the Payroll Tax thresholdFrom Monday, 1 July 2013, the Payroll Tax per annum threshold increases from $1.01 million to $1.25 million. For more information please read the fact sheet Abolition of Motor Vehicle Duty on caravans and camper trailersFrom Monday, 1 July 2013, the Duty on applications to register or transfer ownership of caravans and camper trailers in Tasmania is abolished. For more information, please read the fact sheet Removal of the First Home Owner Grant for the purchase of established homes – from 1 July 2014The First Home Owner Grant (of up to $7,000) will no longer be available for the purchase of ‘established’ homes with contracts signed on and after 1 July 2014. This change does not affect eligible applicants buying a newly constructed home or building a new home (either as an owner builder or through a registered builder). The Grant remains in place for eligible applicants purchasing established homes with contracts signed before 1 July 2014. Special Arrangements for Taxpayers Affected by 2012/13 Summer BushfiresIn January, the Commissioner of State Revenue extended the time for taxpayers, affected by the summer bushfires, to pay their land tax accounts. The due date was extended by three months to April, and applied to all taxpayers with billing addresses between, and including, 7173 and 7187. The extension has now expired, and land tax accounts have been posted to taxpayers. For more information about land tax, please call (03) 6233 8070. Pre-filled Employment Incentive Scheme (Payroll Tax Rebate) (EISPR3) Registration forms sent to EISPR2 RegistrantsEmployers who registered for EISPR2 have been sent, by e-mail, a pre-filled Registration form for the Employment Incentive Scheme (Payroll Tax Rebate) (EISPR3). This excludes those who have already lodged EISPR3 Registration forms and a small number who will be sent pre-filled forms by mail. If you registered for EISPR2 and have not received a pre-filled EIPSR3 Registration form by 31 January 2013, please contact the SRO. EISPR3 Registration forms must be lodged by 30 June 2013. More information is available about the Employment Incentive Scheme (Payroll Tax Rebate) (EISPR3). Land Tax - EOLSD Fee ChangeThe application fee for an "Estimate of Liability at Settlement Date” (EOLSD) will increase from $10.50 to $10.80 effective 1 July 2012. The EOLSD fee increases at 1 July each year in accordance with the CPI adjustment factor provided for under Section 5 of the Fee Units Act 1997. For further information please read the Estimate of Liability at Settlement Date fact sheet. 2012-13 Market Interest RateThe market rate of interest for the 2012-13 Financial year has been set at 3.66 per cent as per section 35 of the Taxation Administration Act 1997 Interest is imposed to compensate the Tasmanian Government for being denied the use of revenue; and to promote equity among taxpayers by ensuring that those who meet their obligations are not disadvantaged compared with those who do not. The following rulings are applicable to Interest and Penalty tax: PUB-GEN-2011-1 PTA036 (version 2) PUB-GEN-2011-2 Penalty Tax on Duty Instruments processed by TRO Agents For additional information, please refer to the rates of interest. Changes to Self Assessment of Duty InstrumentsOn 1 July 2012 the list of duty instrument transactions that are 'Mandatory' or 'Optional' for self assessment on Tasmanian Revenue Online (TRO) will change. For TRO users: Mandatory transactions MUST be self assessed using TRO. Optional transactions can be self assessed using TRO or submitted to the State Revenue Office (SRO) for assessment. From 1 July 2012 if a TRO user submits an “Optional” category transaction to the SRO for assessment a cost recovery fee will apply. The fee is 25 fee units - $36 per transaction for the 2012/13 financial year. SRO-only transactions must be submitted to the SRO for assessment and will not attract a fee. Further information including a full list of 'Mandatory', 'Optional' and 'SRO-only' transactions is available in the Duty Instrument Self Assessment Guideline Harmonised policy on interest and penalty tax Tasmania has adopted a harmonised approach to Interest and Penalty Tax for late payments of payroll tax. As part of the national initiative to harmonise payroll tax, Tasmania and other Australian jurisdictions have agreed to a common policy for the application of Interest and Penalty Tax on late payments of payroll tax. Tasmania has adopted the harmonised approach and, through the State Revenue Office, will strictly apply the policy, from and including the August 2011 payroll tax return. Payroll tax ruling – Determining whether a worker is an employee PTA038 – Determining whether a worker is an employee – was published on 29 July 2011 by all States and Territories, effective 1 July 2011. The term ‘employee’ is not defined in the Payroll Tax Act 2008 and therefore it takes its ordinary or common law meaning. The purpose of this ruling is to provide information about employment relationships to assist employers and their professional representatives to determine whether their workers are common law employees. Payroll Tax Nexus Provisions |
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