Hi all,
Can someone advise how to vary a PAYG installment in the following situation?
- I left a job halfway during the financial year so too much tax has been withheld and I am expecting an overall tax refund.
- After completing the tax return for FY24/25 I was enrolled in PAYG installments because of income from bank interest.
- I have paid one installment this year, before I realised that I would be owed tax for the FY.
Is it appropriate to put $0 in T8 - estimated tax for the year? If I put a positive amount (ie marginal tax rate * estimated interest income for the year), I am still assessed as owing for the installment.
Should I claim back the amount I paid in the previous quarter's installment in T9 or leave this a $0?
Thanks
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31 views
1 replies