The rules for claiming deductions for payments to workers are changing.
From 1 July 2019, businesses can only claim deductions for certain payments made to workers where they've met the Pay As You Go (‘PAYG’) withholding obligation for that payment.
Specifically,a business can only claim a deduction for the following payments if it complies with the relevant PAYG withholding rules:
Where the PAYG withholding rules require an amount to be withheld, the business must:
Importantly, a deduction will not be lost if an incorrect amount is withheld (or reported) by mistake.
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