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hotchin(Newbie)Newbie
20 Aug 2024

I will be receiving partnership income from a business partnership for the 2025 tax year. That will result in tax to be paid. I am keeping money aside for that. Once that shows up on my 2025 return will I then be obliged to make regular tax payments to the ATO. Could someone explain briefly how that works? Full disclosure, I am from NZ and we have a system called Provisional Tax which is 3 payments a year, the year after it first appears on your personal return. Not sure how this works in Australia. Thanks.

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Partnership income resulting in tax to pay personally | ATO Community