What are PAYG Income Tax Instalments?

Pay-as-you-go (PAYG) instalments are recurring prepayments of the tax on your investment income or company. Upon entering the PAYG Instalment System you will have to pay PAYG Installments every 3 months. How Do PAYG Instalments Work? What are PAYG Income Tax Instalments and how do they work? Pay As You Go (PAYG) Instalments is a…

Federal Court affirms PAYG amounts “withheld” from salary or wages

Federal Court Upholds Tax Credit, Despite Non Reporting of PAYG Withheld Amounts It is commonly understood that all PAYG amounts classed as “withheld” from the salary or wages of a taxpayer, must be reported to the ATO. This is a standard element of tax compliance, and is something that the vast majority of Australian tax…