I retired at the end of 2025, but still have share dividends. I took a lump sum. Paying the Quarterly PAYG bill is now difficult without income from work. Should I try to vary it (need a Masters degree to understand the instructions) or try and make it to end tax return time and hope next year it's revised?
Hi @RLC,
There isn’t a requirement to vary – it’s optional.
If your income has dropped and you now only receive dividends or other investment income, the instalments may no longer reflect your actual tax position. You have two options:
Any excess instalments you’ve paid will be credited or refunded at that time.
Your instalments will also be reassessed automatically after you lodge your next tax return, so if your income remains lower, they may reduce or stop for future years.
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