The Queensland Government has implemented a new levy which will be used to fund mental health services to support Queenslanders.
The mental health levy will be applied to some Queensland companies who pay more than $10 million in annual Australian taxable wages, and additional reporting requirements will apply for these employers.
The levy rate for employers paying more than $10 million will be 0.25%. If an employer was only liable for part of a financial year, the mental health levy thresholds are calculated on the number of days you paid, or were liable to pay, taxable wages.
Additional reporting requirements will also apply for all employers paying more than $10 million in taxable wages from 1 January 2023 for the mental health levy.
To find out more about your obligations and reporting requirements please go to www.qld.gov.au/payrolltax. Please contact us if require further information at [email protected].
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