Pay as you go (PAYG) instalments are prepayments of your expected income tax for the year. If your total PAYG instalments will be more, or less, than your expected tax for the year, for example because your financial situation changes, you can vary the amount of the instalments. Underestimating your instalment amount or rate could result in a substantial tax bill when you lodge your tax return at the end of the year. Talk to us about whether you should vary your PAYG instalments. We can also talk to the ATO on your behalf if you are unable to pay an instalment amount.
Click to read our article: Varying PAYG instalments (0.70 MB PDF)