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I'm an inclined to agree, I fail to understand beyond cash flow for the commonwealth what this achieves in terms of extra revenue. In some respects it should be better for small companies as they can pay monthly rather than having to save the money and make a quarterly payments which some business owners seem unable to budget for.

I didnt hear what level the changes came down to last night but according to the ATO website http://www.ato.gov.au/taxprofessionals/content.aspx?doc=/content/00338153.htm
it currently only filters down to businesses with over $20Mill T/O after Jan '16 not what I would call 'Small business'

For Example say I currently pay $60k Corp Tax per year, whether I pay $15k p.q or $5k p.m makes little difference to me, I have to submit PAYG Witholding every month anyway.

Any idea how this affects the bottom line of the budget?

Simon

<blockquote data-quote="Dibbler" data-source="post: 771971" data-attributes="member: 43489">I&#039;m an inclined to agree, I fail to understand beyond cash flow for the commonwealth what this achieves in terms of extra revenue. In some respects it should be better for small companies as they can pay monthly rather than having to save the money and make a quarterly payments which some business owners seem unable to budget for.I didnt hear what level the changes came down to last night but according to the ATO website <a href="http://www.ato.gov.au/taxprofessionals/content.aspx?doc=/content/00338153.htm" target="_blank">http://www.ato.gov.au/taxprofessionals/content.aspx?doc=/content/00338153.htm</a>it currently only filters down to businesses with over $20Mill T/O after Jan &#039;16 not what I would call &#039;Small business&#039;For Example say I currently pay $60k Corp Tax per year, whether I pay $15k p.q or $5k p.m makes little difference to me, I have to submit PAYG Witholding every month anyway. Any idea how this affects the bottom line of the budget?Simon</blockquote>

[QUOTE="Dibbler, post: 771971, member: 43489"] I'm an inclined to agree, I fail to understand beyond cash flow for the commonwealth what this achieves in terms of extra revenue. In some respects it should be better for small companies as they can pay monthly rather than having to save the money and make a quarterly payments which some business owners seem unable to budget for. I didnt hear what level the changes came down to last night but according to the ATO website [url]http://www.ato.gov.au/taxprofessionals/content.aspx?doc=/content/00338153.htm[/url] it currently only filters down to businesses with over $20Mill T/O after Jan '16 not what I would call 'Small business' For Example say I currently pay $60k Corp Tax per year, whether I pay $15k p.q or $5k p.m makes little difference to me, I have to submit PAYG Witholding every month anyway. Any idea how this affects the bottom line of the budget? Simon [/QUOTE]

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