Hi,
I just received an email welcoming me to the pay-as-you-go (PAYG) instalments. I am not an investor and don't have a business. I only have my savings in Savings accounts. Could you please help me understand what this is and why I have it?
Thank you,
Susanna
Money in the bank can earn interest. This is a form of investment.
The link explains the investment thresholds for automatic entry into the instalment system
Money in the bank can earn interest. This is a form of investment.
The link explains the investment thresholds for automatic entry into the instalment system
Starting PAYG instalments | Australian Taxation Office
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