A payment where PAYG tax has not been withheld or reported is called a non-compliant payment, and will not be eligible for a deduction. However, if you make a mistake (such as withholding or reporting an incorrect amount) and voluntarily correct it, you will not lose your deduction.
These changes primarily target the road freight, IT, and security, investigation or surveillance industries – which means they will impact businesses as varied as web design, locksmiths and road freight.
For more information about these changes, click here. If you have any questions or concerns, please don’t hesitate to give us a call on (08) 9791 5877.