Removing tax deductibility of non-compliant payments.
Budget, what you need to know- Removing tax deductibility of non-compliant payments.
Where an employer fails to withhold an amount of PAYG from payments to an employee or to a contractor (where no ABN is provided), a deduction for the payment will be denied.
This measure will commence from 1 July 2019
.If you’re not sure how this, or any other changes will affect your business, you need to speak with us. Please phone 0434 391 331.