Lodging your 2022-23 payroll tax annual reconciliation

Description

This video shows the steps to take in order to lodge your 2022-23 payroll tax annual reconciliation.

Transcript

This video guides all relevant Victorian employers through the steps necessary to complete this year's annual reconciliation in PTX Express.

The electronic annual reconciliation must be completed, lodged, and any outstanding payroll tax paid by 21 July. To commence lodging your annual reconciliation, log in to PTX Express, select annual reconciliation, then begin. There are six steps in the annual reconciliation process: review your details, enter your wages, review your payments, review the calculation, lodge your return, and pay an outstanding amount, or in some cases, receive a refund.

On this screen review your details to ensure they are correct and up to date. This includes checking your employer details, Victorian and/or interstate reconciliation periods, and contact information. Once complete, select next.

This field allows you to save and exit at any time and return to the annual reconciliation later. On this screen enter your wages for the full financial year, or part year if you commenced or ceased employing during the financial year.

If 85% or more of your Victorian wages were paid to regional employees, you are eligible for the lower payroll tax regional rate. Check this box if this is the case and enter your regional wages here, even if these figures are the same as your total Victorian wages. More information about different fields is available by selecting any hover text icon. For all customers who paid wages in other states or territories, enter those wage totals here, then enter your wage estimates for the next financial year here. Where applicable, select the states or territories you employed in, and the state or territory your head office is in.

Step 3 allows you to review the payments you made during the financial year. These are your regular payroll tax payments and do not include last year's annual reconciliation payment, or any penalties or interest you may have paid. If there is a discrepancy you can amend your total here and provide details in this box.

Additional information is required for members of a payroll tax group. Select yes to provide the designated group employer, or DGE, with your wage and tax details so they can complete the annual reconciliation for the whole group. The DGE receives the tax-free threshold for the group, whereas ordinary group members pay payroll tax on all their wages. Designated group employers, or DGE, must check their individual wages plus those of other group members, both regional and non-regional, as is shown on this screen. The DGE can select edit to make amendments or add or remove members, if required. The DGE can switch between showing total Victorian wages or regional and non-regional wages by selecting this field.

Step 4 shows the payroll tax calculation based on your gross Victorian taxable wages for the full financial year, less the tax free deduction.

Next is shown the mental health and wellbeing surcharge calculation for employers, including payroll tax groups with total annual Australian wages exceeding 10 million dollars. These figures are based on the wages entered in step 2.

All members of a group are liable for the surcharge if the group's total wages exceed 10 million dollars. This screen shows the mental health and wellbeing surcharge for an ordinary group member and this one shows the calculation for a designated group employer.

To view your deduction calculation, and if applicable, your mental health and wellbeing surcharge calculation, select this link. This screenshot shows the calculation of a non-group employer.

If you're receiving a refund, enter your details here.

If you're a member of a payroll tax group, then the designated group employer will receive any refund for the whole group. Then select next.

You can download a copy of the annual reconciliation summary PDF, including any mental health and wellbeing surcharge data, by selecting this link.

Select this button to lodge your annual reconciliation.

You must pay any outstanding balance in full by the due date of 21 July. Payment options are shown here, however we recommend the online payment option. Once complete, select finish. For more information about the annual reconciliation please visit our website sro.vic.gov.au