SubscribeAustralian Government Reducing December Quarter PAYG
The Rudd Government recently announced that it’s found a way to help small business owners.
Australian Government Reducing December Quarter PAYG by 20%
In an attempt to weather the global financial crises, The Australian Government is reducing by 20% the quarterly PAYG (Pay As You Go) instalment due for the December 2008 Quarter. If you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
However, the information released by the ATO then adds a comment. Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)
You may have already received a letter from the Australian Taxation Office in relation to the December quarter PAYG reduction. Just be aware that it’s not a tax cut and it will all be adjusted at the end of the financial year
PS We are not registered Tax Agents and cannot give advise in such matters – Speak to you accountant to see how it affects you
