Payroll Tax Act 1971 (Qld)

Payroll Tax Act 1971

An Act to impose a tax upon employers in respect of certain wages

Part 1    Preliminary

1   Short title

This Act may be cited as the Payroll Tax Act 1971.

2   Dictionary

The dictionary in the schedule defines particular words used in this Act.

3   Meaning of superannuation contribution

(1)A superannuation contribution is a monetary or non-monetary contribution paid or payable by an employer for an employee, or by a company for a director of the company—

(a)as a superannuation guarantee charge under the Superannuation Guarantee Act; or

(b)to a superannuation fund under the Superannuation Industry (Supervision) Act 1993 (Cwlth); or

(c)to another form of superannuation, provident or retirement fund or scheme, including, for example, the following—

(i)a retirement savings account under the Retirement Savings Accounts Act 1997 (Cwlth);

(ii)a wholly or partly unfunded fund or scheme.

Examples of non-monetary contribution—

1marketable securities

2real property

(2)In this section—

Superannuation Guarantee Act means the Superannuation Guarantee (Administration) Act 1992 (Cwlth).

superannuation guarantee charge does not include the following—

(a)an additional superannuation guarantee charge under section 49 or part 7 of the Superannuation Guarantee Act;

(b)the part of a superannuation guarantee charge equal to a superannuation contribution mentioned in subsection (1)(b) or (c) that is payable, and for which payroll tax has been paid to the commissioner, to the extent the contribution would have resulted in a reduction in the charge percentage under section 23 of the Superannuation Guarantee Act if the contribution had been paid.

unfunded, for a superannuation, provident or retirement fund or scheme, means the extent that an amount paid or payable by an employer for an employee, or by a company for a director of the company, covered by the fund or scheme is not paid or payable while the employee is employed by the employer, or the director is appointed as a director of the company.

3A   Meaning of termination payment

(1)A termination payment is—

(a)any of the following payments made because of the retirement from, or termination of, any office or employment of an employee—

(i)an unused annual leave payment under the Income Tax Assessment Act 1997 (Cwlth), section 83-10;

(ii)an unused long service leave payment under the Income Tax Assessment Act 1997 (Cwlth), section 83-75;

(iii)so much of an employment termination payment paid or payable by an employer, whether paid or payable to the employee or to another entity, that would be included in the assessable income of the employee under the Income Tax Assessment Act 1997 (Cwlth), chapter 2, part 2-40 if the whole employment termination payment had been paid to the employee; or

(b)a following amount, if the amount would be an employment termination payment had it been paid or payable because of termination of employment—

(i)an amount paid or payable by a company because of the termination of the services or office of a director of the company, whether…