Records and reporting

Keeping records

The payer and the payee must keep a copy of the voluntary agreement while it is in force and for five years after the last payment is made under the agreement.

Note: Do not send copies to us.

How the payer reports amounts withheld

The payer needs to:

  • pay any amounts withheld under voluntary agreements to us (large withholders must do this by direct credit)
  • complete and lodge activity statements including any amounts withheld under voluntary agreements
  • give each payee a PAYG payment summary - business and personal services income (NAT 72545) by 14 July after the financial year (or earlier if requested)
  • complete an annual report of all payments made under voluntary agreements and send this to us by 14 August each year.
    Last modified: 04 Feb 2016QC 16225