PAYG Withholding Tax

If you employ staff, you must be registered for PAYG Withholding Tax.  Amounts withheld for tax from staff wages will be payable either monthly or quarterly to the ATO via your Business Activity Statement. Payment of any amounts withheld from wages will be paid to the ATO when this form is lodged.

As a business owner if is essential that you have adequate systems in place when employing staff. It is important when employing new staff that the correct documentation is completed by the new staff member and lodged with the ATO. Your employees must also be issued with a PAYG Statement annually and documentation must be lodged with the ATO advising of annual wages paid.

At McCabe Weston Accountants we can assist you when employing staff and with ongoing administration. Some of the areas we can help you with are as follows:

  1. Employing new staff (forms to be completed and lodged with ATO)
  2. Current Staff (Preparing PAYG Summaries and reporting to the ATO)
  3. Preparation & Lodgement of Activity Statements
  4. Registration for PAYG Withholding Tax
  5. How much should be withheld for various staff payments

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