Not that it has much to do with the original question, but the Ato has never minded having extra money in my business account. They don't pay interest on it and I have to request a refund.itmechanic said:Actually, they do care if they are over paid, that means that they then owe me money, and they don't like to be in that situation.
PAYG involves paying a provisional amount of tax. The name may have changed but it still includes a provisional sum based on previous earnings.NewtownClown said:No employee pays "provisional tax" in Australia and PAYG replaced provisional tax for business 13 years ago...
The ATO doesn't "take extra money off" employees! Employers deduct the tax and send it to the ATO. If you are paying too much out of you pay packet it is the way the employer is calculating it
Did you mean "4.7% pays 4.5%" in that last bit, or does the 0.2% leeway only relate to the labeled Abv?beersom said:A 4.5% beer can be anywhere between 4.3% and 4.7 %
if it is 4.3% you pay based on 4.5%
if it is 4.7% you pay based on 4.7%
Not sure why the grape juicers are allowed such large leeway.
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