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About: Pay-as-you-earn tax     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatPersonalTaxes, within Data Space : dbpedia.org associated with source document(s)

Type: Thingyago:WikicatWithholdingTaxesyago:Abstraction100002137yago:Charge113400798yago:IncomeTax113310230yago:Levy113308864yago:Liabilities113396054yago:Possession100032613yago:Relation100031921yago:WithholdingTax113311368organisationyago:Tax113308999yago:WikicatPersonalTaxes New Facet based on Instances of this Class

A pay-as-you-earn tax (PAYE), or pay-as-you-go (PAYG) in Australia, is a withholding of taxes on income payments to employees. Amounts withheld are treated as advance payments of income tax due. They are refundable to the extent they exceed tax as determined on tax returns. PAYE may include withholding the employee portion of insurance contributions or similar social benefit taxes. In most countries, they are determined by employers but subject to government review. PAYE is deducted from each paycheck by the employer and must be remitted promptly to the government. Most countries refer to income tax withholding by other terms, including pay-as-you-go tax.