Effective from Tuesday the 13th of October the Withholding Tax values have changed. The Federal Government announced that they brought forward the changes to the PAYG tax tables, which were scheduled to occur as of 1 July 2021, as a further response measure to assist Australians with the financial implications of the COVID-19 virus. Many income earners will receive more take home net pay from October onwards. The tax changes will have retrospective effect back dated to 1 July 2020, so some income earners may also receive a tax refund when they complete their 2020/2021 tax return after 30th June 2021.
Update To PAYG Tax Rates
October 20, 2020
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Promat Australia Pty Ltd has shared a long association with IPS and has always found them to be highly professional, prompt and attentive. They will always go the extra mile to ensure that all your payroll needs and requirements are met.
Promat Australia Pty Ltd - Gregg Hammond Manufacturing Accountant/HR