I am a salaried emplyee, not on PAYG. I got notification about Instalment activity statment and have to pay in next two week. I am not a sole trader or running a business & not using PAYG .
Not sure why do I have to pay quarterly tax?? OR ATO made a mistake here.
I prefer to pay yearly, like I have been so far. What do I need to do to go back to paying yearly tax
Thanks
Hey @girishdatta,
Entry into the PAYGI system is based on business or investment income, that's not taxed at the source.
When you're entered in the pay as you go instalment system, it's based on what's been lodged on your previous years return.
You should've received a letter, either by post or in your myGov inbox, detailing why you've been entered in the system.
Income that's included to determine PAYGI entry, can include,
Check out the info we have on PAYG instalments.
Hey @girishdatta,
Entry into the PAYGI system is based on business or investment income, that's not taxed at the source.
When you're entered in the pay as you go instalment system, it's based on what's been lodged on your previous years return.
You should've received a letter, either by post or in your myGov inbox, detailing why you've been entered in the system.
Income that's included to determine PAYGI entry, can include,
Check out the info we have on PAYG instalments.
22 Apr 2024 · 6 min read time
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