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PAYG Withholding - Annual Reporting

The following information is sourced from the ATO website. Further information/clarification is available here.

Payment summaries and annual reports
You need to provide your payees (workers and businesses that did not quote their ABN) with a payment summary specifying how much you paid them in the financial year, and how much you withheld from those payments.

Payment summaries show how much you paid a worker or supplier for the financial year ended 30 June, and how much you withheld form those payments. You may have to complete different types of payment summaries, depending on the types of payments you have made throughout the financial year.

Electronic payment summaries
You have the option of providing your payees with electronic payment summaries if you lodge your PAYG withholding payment summary annual report electronically.

Annual reporting
You must lodge PAYG withholding annual reports at the end of each financial year. You can do this electronically or on paper.

Authorised signatories
Only certain people are authorised to sign documents required under PAYG withholding. These vary depending on the structure of your business entity.

Reporting electronically
Reporting your PAYG withholding information electronically is quicker and easier than using paper forms because you can:
* lodge online
* provide your payees with an electronic payment summary
* give your payees their payment summaries printed on plain paper
* avoid the work of completing a PAYG payment summary statement or sending copies of paper payment summaries to the ATO.

To report electronically, you need payroll software that meets ATO specifications. You can purchase compatible commercial software or develop your own.

You can lodge online using either the ATO's Online Services for Business, Business Portal, Agents Portal or the standard business reporting (SBR) portal.

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