+61 3 9602 2408

Our Blog
Read the Latest News

PAYG Witheld1.jpg

Although this will only impact high-end clients, ‘corporate tax entities’ may soon be due to commence paying monthly rather than quarterly PAYG instalments. From 1 January 2016.

Corporate tax entities must commence PAYG instalments on a monthly basis if their base assessment instalment income is more than $20 million.

Monthly instalments must be paid electronically and are due on or before the 21st day of the following month.

If a client is a deferred BAS payer on the 21st day of the next instalment month, then the payment is due on the 28th day of the following month. ‘Corporate tax entities’ include companies, corporate limited partnerships, corporate unit trusts or public trading trusts. This new measure may have cashflow impacts on the entities affected.

Do You Have a Tip or an Idea for a Story? Tell Us About It.

EPC Bookkeeping

Phone
+61 (03) 9602 2408

MYOB Partner Logo Horizontal          xero certified advisor logo       2 qb pa adv online 

aba logo    abn logo    25683525 Colour Portrait         pure bookkeeping