Pay-roll Tax Amendment Regulation (No. 1) 2008 (Qld)

Queensland Pay-roll Tax Amendment Regulation (No. 1) 2008 Subordinate Legislation 2008 No. 153 made under the Pay-rollTaxAct1971 Contents Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Amendment of s 13A (Definitions for div 1A) . . . . . . . . . . . . . . . . 2 5 Replacement of s 13B (Value of Queensland fringe benefits for estimated value amount) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 13B Value of Queensland fringe benefits for estimated value amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6 Amendment of s 13C (Value of Queensland fringe benefits for reconciliation amount or final return) . . . . . . . . . . . . . . . . . . . . . . 3 7 Omission of pt 6 (Miscellaneous) . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 Amendment of schedule (Dictionary) . . . . . . . . . . . . . . . . . . . . . . 4

Pay-roll Tax Amendment Regulation (No. 1) 2008 [s 1] 1 Short title This regulation may be cited as the Pay-roll Tax Amendment Regulation (No. 1) 2008 . 2 Commencement This regulation commences on 1 July 2008. 3 Regulation amended This regulation amends the Pay-roll Tax Regulation 1999. 4 Amendment of s 13A (Definitions for div 1A) (1) Section 13A, definition taxable value — omit. (2) Section 13A— insert— ‘ grossed- up value , of a fringe benefit, means the value of the benefit worked out using the formula stated in section 13(5) of the Act.’. 5 ‘13B Replacement of s 13B (Value of Queensland fringe benefits for estimated value amount) Section 13B— omit, insert— Value of Queensland fringe benefits for estimated value amount ‘For calculating the estimated value amount for a financial year, the value of Queensland fringe benefits for the previous or last year of tax is— (a) for the financial year beginning on 1 July 2003 or a later financial year ending not later than 30 June 2008—the taxable amount of the benefits; or Page 2 2008 SL No. 153

Pay-roll Tax Amendment Regulation (No. 1) 2008 [s 6] (b) for the financial year beginning on 1 July 2008 or a later financial year—the grossed-up value of the benefits.’. 6 Amendment of s 13C (Value of Queensland fringe benefits for reconciliation amount or final return) Section 13C(2) and (3)— omit, insert— ‘(2) The value of Queensland fringe benefits for the last year of tax is— (a) for the financial year beginning on 1 July 2003 or a later financial year ending not later than 30 June 2008—the taxable amount of the benefits; or (b) for the financial year beginning on 1 July 2008—the sum of— (i) the taxable amount of the benefits for the period beginning on 1 April 2008 and ending on 30 June 2008; and (ii) the grossed-up value of the benefits for the period beginning on 1 July 2008 and ending on 31 March 2009; or (c) for the financial year beginning on 1 July 2009 or a later financial year—the grossed-up value of the benefits. ‘(3) The value of Queensland fringe benefits for the year of tax ending in an employer’s election year is— (a) for the election year beginning on 1 July 2003 or a later election year ending not later than 30 June 2009—the taxable amount of the benefits; or (b) for the election year beginning on 1 July 2009 or a later election year—the grossed-up value of the benefits.’. 7 Omission of pt 6 (Miscellaneous) Part 6— omit. 2008 SL No. 153 Page 3

Pay-roll Tax Amendment Regulation (No. 1) 2008 [s 8] 8 Amendment of schedule (Dictionary) (1) Schedule, definitions amortised fringe benefit and taxable value — omit. (2) Schedule— insert— ‘ grossed-up value , for part 5, division 1A, see section 13A.’. ENDNOTES 1 Made by the Governor in Council on 12 June 2008. 2 Notified in the gazette on 13 June 2008. 3 Laid before the Legislative Assembly on . . . 4 The administering agency is the Treasury Department. © State of Queensland 2008 Page 4 2008 SL No. 153