your employer is not taxing you correctly if he's not taking into account your annual figure. the whole point of ppl being paid by the employer is to make sure your annual income is taken into account! be aware that there is a chance you may end up with a tax bill at tax time due to the taxation rate your employer is using
Well actually the employee is taxing correctly as per the ATO guidelines. It is up to the Employee to ask for additional tax to be taken out if they are concerned they may owe tax at the end of the year (this applies to anyone dependent on their situation), there is an ATO form for this (Withholding Variation)

Nothing has come through from the ATO advising of any special tax treatment for PPL (I work for a software developer and we are sent advisories on how we need to change the system to cope with ATO changes). By the sounds of it the PPL should be taxed like a bonus. Chances are though once the whole tax year is taken into account, it probably evens out anyway.

I am going to have to revisit my PPL processing instructions to advise the payroll officer to discuss the taxation of PPL.