Tax Tips

  PAYG INSTALMENT VARIATIONS

Taxpayers that continue to be affected by Covid-19 can vary their PAYG Instalments throughout the year if they believe they pay too much compared to their estimated tax for the year. Provided the taxpayer takes reasonable care to estimate their end of year tax, the ATO will not apply penalties on excessive variations for the 2021/22 income year.

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Disclaimer: These calculations are intended to provide indicative results only which do not constitute financial advice. This calculator does not include any applicable Medicare levy, Medicare levy surcharge, Higher Education Contribution Scheme (HECS), or Student Financial Supplement Scheme (SFSS) liabilities.

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