Question

You are currently an employee of Very Fast Transport and have been asked to process the payroll & complete the PAYG Tax Withheld, a section of the BAS, for another business as a contractor. What is the consequence of performing this task without being registered?

a) No consequences
b) Legal penalties
c) Tax exemption
d) Increased business reputation

Answer 1

Performing payroll processing and completing PAYG Tax Withheld as a contractor without being registered can result in legal penalties.

Step-by-step explanation:

The consequence of performing payroll processing and completing PAYG Tax Withheld without being registered as a contractor for Very Fast Transport is legal penalties. When performing tasks like payroll processing for another business, it is important to comply with the legal requirements and regulations, including proper registration and adherence to tax laws. Failure to do so can result in penalties, fines, and legal consequences.