PAYG instalment 20% reduction for small business

17-Aug-2009

To help small businesses weather the global financial crisis, the Australian Government announced on the 12 December 2008 that it would reduce by 20% the quarterly pay as you go (PAYG) instalment due for the December 2008 quarter. For some small businesses this instalment was due 21 January 2009 while for the balance of small businesses this instalment was due on 28 February 2009.

Note: The 20% reduction applies only to PAYG instalment. It does not apply to other tax liabilities – such as PAYG withholding, goods and services tax (GST), fuel tax or fringe benefits tax (FBT) – payable at the same time.

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