| Period | Maximum deduction | Rate | |
|---|---|---|---|
| Annual | Monthly | ||
| From 1 July 2021 onward | $700,000 | $58,333 |
4.85% 1.2125% for regional Victorian employers |
The mental health and wellbeing surcharge commenced from 1 January 2022. You must pay the surcharge if you pay Victorian taxable wages and your Australian wages exceed the first annual threshold of $10 million, with a first monthly threshold of $833,333.
