PAYG Withholding – Traps in the fine print

Under the PAYG Withholding system, employers are required to withhold tax from wages paid to employees and those that receive “withholding payments”.

And there lies the problem; the fine print.

There are many other payments that you make in a year that might qualify as a “withholding payment” and if you don’t deduct the required tax, you remain liable for what should have been deducted.

Click here to read the “PAYG Withholding” PDF which will tell you when you do or don’t have to deduct tax.

The list of “withholding payments” covers many areas.  If you need help, phone the office on (03) 9585 7555 and ask for Noel or Amanda, orcontact us by email.