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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Tax Facts - Fuel Schemes

Fuel schemes provide credits and grants to reduce the costs of some fuels or provide a benefit to encourage recycling of waste oils. There are various types of schemes:

The former Energy grants credits scheme that applied to alternative fuels and diesel no longer operates for new purchases of fuel.