Frustration over unresolved PAYG WH concession frustration

It all sounded so simple.  Small business which employ would receive at least $20,000 and as much as $100,000.  It wasn’t going to solve the lack of revenue and cash, but, in a small way, would partially help employers to keep employing as many as possible.  However, all is not as it seems.  Frustration over the unresolved PAYG WH concession is growing amongst all accountants.

I have just checked an accounting Facebook group and everyone is expressing increasing frustration over the lack of clarity over the PAYG WH concession and unfairness over common situations.  I have spoken with many accounting colleagues and they too are frustrated.

The interaction of the legislation as passed and how the ATO says they are going to interpret it are going to mean many small business owners will receive no relief either due to the timing of remuneration or form of reward. 

It seems that many small business owners who would reasonably understand they would benefit from this PAYG WH concession are going to miss out.

There is much for the government to do at the moment but this major incentive rapidly requires clarification.  If necessary, the legislation as passed earlier in the week needs to be rapidly amendment to avoid many small businesses missing out.

We will keep you posted.

At MRS, we will spend today planning for your success.