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Tax Facts - PAYG Withholding

Pay as you go (PAYG) withholding is a system for withholding amounts from payments to employees and businesses. An entity will have withholding obligations if the entity:

  • Has employees, including company directors and officeholders
  • Has other workers such as contractors, and voluntarily agrees to withhold tax from payments to them
  • Makes payments to other businesses, if they don't quote an Australian business number (ABN) to the entity

If you are an employer or run a business and withhold amounts from payments, you need to:

  • Register for PAYG withholding
  • Register as an employer of working holiday makers (417 or 462 visa's) if applicable.
  • Withhold amounts from wages and other payments
  • Lodge activity statements and pay the withheld amounts to the Australian Taxation Office (ATO)
  • Provide payment summaries to employees and other payees
  • Provide the ATO with an annual report once each income year has ended.

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PO Box 200 Yarrawonga
VIC 3730

Phone: 03 5744 1221
Fax: 03 5744 2553
Email: belmore@belmores.com.au
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Yarrawonga Wealth Management

70 Belmore St Yarrawonga
PO Box 49 Yarrawonga VIC 3730

Phone: 03 5744 1221
Fax: 03 5744 2553
Email: BWM@belmores.com.au  
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134 Melville Street, Numurkah VIC 3636

Phone: 03 5862 1411
Fax: 03 5862 2075
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1-7 Albert St, Myrtleford VIC 3737
Australia
PO Box 246

Tel 03 5752 2288
Fax 03 5752 2660
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3 Ireland St, Bright VIC 3741, Australia
PO Box 71
(The old post office building)

Tel 03 5755 1327
Fax 03 5755 1875
Email: belmoresmfdbright@belmores.com.au  
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