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Re: PAYG Withholding registration for PSI & cash flow boost

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Initiate

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Replies 3

Hi,

 

A discretionary trust that received PSI in 2020 FY is not registered for PAYG withholding as at March 2020 even though the special withholding obligation would have been triggered due to PSI not yet paid as salary/wages from July 2019 to April 2020.

 

Can we back-date the trust's PAYG withholding registration in this case & get the cash flow boost? Will the ATO treat it as a scheme to get the cash flow boost even though the trust is required to register under the above circumstances?

 

 

1 ACCEPTED SOLUTION

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Most helpful response

Community Support

Replies 2

Hi @mset4 

 

Take a look at the information we have about schemes and their characteristics.

 

If you're genuinely eligible and meet the criteria apart from the PAYG withholding, we have information about creating a PAYGW role after 12 March 2020

 

Thanks, Ari

3 REPLIES 3
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Most helpful response

Community Support

Replies 2

Hi @mset4 

 

Take a look at the information we have about schemes and their characteristics.

 

If you're genuinely eligible and meet the criteria apart from the PAYG withholding, we have information about creating a PAYGW role after 12 March 2020

 

Thanks, Ari

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Initiate

Replies 1

Thanks, Ari.

 

Leaving the cash flow boost issue aside. Would the trust be required to register for PAYG withholding due to the PSI not yet paid out as salary/wages promptly?

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Community Support

Replies 0

Hi @mset4

 

Sorry for the delayed response.

 

There's no requirement to register promptly as long as you register before you make the payment where you're required to withhold.

 

Thanks, Ari