I received a notification I need to pay an account overdue but I don’t run a business.
this is an activity statement 002 account request.
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If you had a tax payable on your last lodged tax return, maybe due to investment income (e.g. bank interest) then the ATO will often enter you into the PAYG instalment system whereby they ask you to prepay tax to be used against your income earned in the current tax year. This link explains the system. You have the opportunity to vary the amount requested if you consider it is too high or too low.
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If you had a tax payable on your last lodged tax return, maybe due to investment income (e.g. bank interest) then the ATO will often enter you into the PAYG instalment system whereby they ask you to prepay tax to be used against your income earned in the current tax year. This link explains the system. You have the opportunity to vary the amount requested if you consider it is too high or too low.
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