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8 May 2025

Hello,


So I had a payment plan for my FY24 lodgement, but the Division 293 extra tax caused the lodgement to increase. I never noticed this since mail was going to my tax agent and it wasn't being forwarded, but once I found out I reset up the payment plan and things seem fine.


In the meantime a new "Activity statement 001" has appeared which SEEMS like it is trying to take the lodgement payment in 4 equal instalments via PAYG. Is that correct? And if so, will this disappear now that the payment plan has been adjusted and is working OK for the updated lodgement?

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789 views
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KevColl(Superuser)Superuser
8 May 2025

Activity statement is in regards to PAYG Instalments, these are prepayments of income tax to meet your next years tax liability. The amount paid will be deducted from your next tax assessment.

In ATO portal select Profile - Communication History and you should find a letter regarding PAYG Instalments.


Link below will explain PAYG Instalments.


https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/payg-instalments

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