PAYG Withholding

PAYG Tax

When it comes to being an employer, we understand you have a role to play in helping all employees reach their end of year tax liabilities. The best way to ensure you do this correctly is by using the PAYG Withholding system. You do this by collecting pay as you go (PAYG) withholding amounts from payments you make to your employees, contractors etc.

 PAYG Withholding

PAYG is a legal requirement for all employers and is the collecting of pay from employees and contractor for income tax purposes. All employers must lodge a PAYG report at the end of each financial year that outlines the PAYG tax activities of that year. The PAYG amount for all employees must be paid to the Australian Taxation Office and reported on the activity statements on a monthly or quarterly basis. At the end of each financial year, an annual report of PAYG must be lodged.

At Peter Vickers Business Group, we help our clients report and lodge the PAYG on activity statements. We also help our clients reconcile annual PAYG, lodge the Annual PAYG reports as well as produce the employee PAYG payment summary statement at the end of each financial year.

 Talk to our Team about PAYG Tax Today

For more information about our PAYG services and other financial services we offer at Peter Vickers Business Group, contact our team today. 

_{Advice provided by Peter Vickers and Associates Pty Ltd Chartered Accountants Liability Limited by a Scheme under the Professional Standards Legislation ABN 60003466813. Authorised representative of Peter Vickers Insurance Brokers Pty Ltd trading as Peter Vickers Investment Services Australian Credit Licence and Australian Financial Services Licence Number 229302}