What is a PAYG?

PAYG

PAYG, which stands for pay-as-you-go (PAYG) withholding, is a system by which employees and businesses make small tax payments throughout the year. This way, they can easily meet their overall tax liabilities at the end of the year. This applies without leaving either a large credit or tax liability. Generally, withholdings are taken out of your paycheck.

You can request an increase or decrease in your withholding in case your tax situation changes. It may be due to the number of your dependents changing or you have a large number of tax-deductible expenses. This will help you meet your tax obligations accurately.

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