What Is the 'PAYG Withholding Scheme

question 27

Multiple Choice

What is the 'PAYG withholding scheme'?

• A)A scheme whereby partners and sole traders pay instalments of tax based on the previous year's tax assessment.
• B)A scheme in which a business withholds and periodically pays to the Australian Tax Office income tax payable on payments to employees.
• C)A scheme whereby corporations pay instalments of tax for a year, based on the previous year's tax assessment.
• D)A scheme in which a business withholds and periodically pays to the Australian Tax office a sum representing its estimated yearly tax liability.

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Definitions:

Failing Class

A situation in which a student does not meet the required minimum academic standards of a course, resulting in a grade that does not earn credit.

External Validity

The extent to which the results of a study can be generalized or applied to contexts outside the original study setting.

Causal Relationship

A connection between two entities where one is understood to be the cause of the other.

Logical Fallacy

A flaw in reasoning that leads to incorrect arguments, often invisible in the argument's structure but critically undermining its validity.