PAYG withholding: New penalties for non-compliance
New penalties for business’s pay-as-you-go (PAYG) withholding and reporting obligations are to be introduced as a result of legislation commencing 1 July 2019. The law will now prevent businesses from claiming deductions for payments to employees and certain contractors if they fail to comply. Payments that are impacted include salary, wages, commissions, bonuses or allowances…