BSBFIM601 Manage Finances - Assessment Task 1

Task 1

Question 7

Answer the following questions relating to Pay-as-you-go (PAYG) tax in Australia:

1. Explain the difference between PAYG withholding and PAYG Income Tax Instalments.
2. If you make payments subject to withholding, what are the five things the Australian Tax Office requires a business owner to do?

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