GPAUS: Global Payroll Australia Legislative Changes for Tax Year 2021-2022
(Doc ID 2762432.1)
Last updated on DECEMBER 31, 2021
Applies to:PeopleSoft Enterprise HCM Global Payroll Australia - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
The intent of this document is to describe solutions for problems or questions related to Global Payroll Australia Legislative Changes for Tax Year 2021-2022. This solution applies to customers on PeopleSoft Release 9.2. This is a living document and will be updated as new solutions are created; please review thoroughly on a regular basis.
(Last updated 2nd June 2021) Summary Table - see below for details:
Please see table below for details.
|Legislative Change||Effective Date||Additional Info||P1 Patch Fix Target Date||Targeted into PUM Image/Patchset|
|FBT RATES AND THRESHOLDS CHANGES EFFECTIVE 1ST OF APRIL 2021||1st April 2021||The FBT rate, bench mark interest rate and reportable fringe benefits for the year ending 31st March 2022 has changed and the changes are to be incorporated.||
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|FISCAL YEAR BUDGET CHANGES EFFECTIVE 1ST OF JULY 2021FISCAL YEAR BUDGET CHANGES EFFECTIVE 1ST OF JULY 2021||1st July 2021||
The Federal Budget did not result in any changes to tax rates or income thresholds for 2021-22 income year.
The extension of the low and middle income tax offset is only claimable when individuals lodge their income tax return. There are no changes to Schedule 1 – Statement of formulas for calculating amounts to be withheld (NAT 1004) nor to the regular tax tables.
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|VICTORIA STATE BUDGET EFFECTIVE 1ST OF JULY 2021||1st July 2021||
Victorian Government announced the few initiatives that are favourable for taxpayers. Details mentioned underneath
The surcharge, which will apply from 1 January 2022, is intended
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|LEGISLATIVE CHANGES OF CHILD SUPPORT PROTECTED EARNINGS AND VICTORIA MENTAL HEALTH AND WELLBEING SURCHARGE EFFECTIVE 01 JAN 2022||1st Jan 2022|| The mental health and wellbeing surcharge (surcharge) is a new revenue
mechanism introduced by State of Victoria to provide stable and dedicated
form of additional funding to aid and strengthen the mental health system.
Below are the key requirement from state of Victoria for the calculation of
Mental Health and Wellness surcharge.
- All Victorian Employers or Designated Group Employer (DGE) has to pay 0.5%
of Victorian taxable wage over threshold of 10 million a year.
- All Victorian Employers or Designated Group Employer (DGE) has to pay 1%
of Victorian taxable wage over threshold of 100 million a year.
- Mental Health Surcharge is to be paid along with payroll tax by all the
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