bO2 2021 Ch 13 Pay As You Go (PAYG)

James Murphy Tax

PAYG is the method by which tax is collected at the source of the payment. The main benefit of this system is that it allows people to pay tax progressively, so they do not end up with a lump sum payable at year end. These payments normally form part of the recipient’s taxable income. PAYG is reported using activity statements ...

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