Pay As You Go (PAYG) Withholding

Small Business and Large Business alike have an obligation to collect tax from payments they make to employees and some businesses so they can meet their end-of-year tax liabilities.

 

Business have withholding obligations if any of the following apply:

 

  •  They have employees

  •  They have other workers, such as contractors, and you enter into voluntary agreements to withhold amounts from your payments to them

  • They make payments to businesses that don't quote their Australian business number (ABN).

 

The business must apply to register for PAYG withholding before you are first required to withhold an amount from a payment.

 

If you are an employer you will be also required to register for Workcover and Superannuation on behalf of your employees.

 

Jeffkins Accountancy Melton being experienced Small business advisors can assist with all your employment registration requirements.

Useful Links:

 

Weekly tax calcualtor

 

Fortnightly tax calcualtor