The bill A New Tax System (Pay As You Go) Bill 1999 amends the Taxation Administration Act 1953 and results in the existing payment and reporting systems being abolished or replaced from 1 July 2000. The new PAYG arrangements will incorporate: (1) a PAYG withholding system which replaces the PPS and RPS systems and incorporates the main elements of the current PAYE system. The remaining withholding systems which cover various payments (eg. dividends, interest and royalties) will also be standardised and become part of the new PAYG withholding system; and (2)a PAYG instalments system which replaces the current provisional tax and company tax instalment systems. The withholding system will apply to payments made on or after 1 July 2000. The instalments system will apply for the 2000-2001 income year and later income years.
Miscellaneous
1999
PAYG withholding regime
Source: QLD
Published Date: 21 Sep 1999
Details
- Published By: Susan Young
- Published On:21 Sep 1999
- Took place at:Parkroyal Hotel, Brisbane
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
Copyright Statement
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags
Miscellaneous
1999
Share this page