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The Pay As You Go system of collecting income tax in Australia has...

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The Pay As You Go system of collecting income tax in Australia has...

The Pay As You Go system of collecting income tax in Australia has the following two strands:

A.    PAYG withholding whereby the payer deducts amounts from others and remits these payments to the ATO

B.    PAYG instalments whereby taxpayers with business and investment income report and make regular payments to the ATO towards their anticipated annual tax liability.

C.    PAYG foreign contractor withholding tax whereby business employing foreign contractors withhold and remit payments to the ATO adjusted by the relevant DTA rate

D.   Only a and b are correct

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Answered by CountCPA22 on coursehero.com

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