I am required to pay PAYG withholding amounts electronically 6-8 days after payroll.
I no longer need to report or pay PAYG amounts on my activity statements.
I need to update my software to show the new due dates, I can only find options under BAS info that shows monthly or quarterly or not registered.
Under PAYG withholding reporting frequency, it does not give a large business option?
Hi HEC,
Thanks for explaining that so clearly, and for sharing the screenshot. I'm sorry for the slow reply, if your PAYG withholding cycle has changed, it may be a sign that you’ve outgrown the standard PAYG withholding setup in AccountRight. You could look into our bigger business options if you need something that better suits the way your business is growing. You can also check this link which explains that the ATO may allow large withholders to use a GST credit to offset their PAYG liability, just scroll down to the Large withholders section. I’d also recommend having a chat with your accountant so you can choose the best way forward for managing your PAYG obligations.
Cheers,
Princess
