Legislative Updates for PeopleSoft Global Payroll Australia
By Carolyn Cozart on Feb 27, 2013
Changes in Taxation of Back Payments, Commissions, Bonuses and Similar Payments
The ATO (Australian Tax Office) has issued amendments to the taxation rules on Additional Payments made in the form of back payments, commissions, bonuses and similar payments (Including lump sum payments in arrears) effective from 1st July, 2013.The amendment necessitates changes in calculation arising out of revised definitions of certain key components and treatment of various Additional Payments.
Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532030.1.”