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PAYG Instalments letter

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Newbie Registered Tax Practitioner

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Replies 1

HI, this is a favourite bug bear of mine, and I think I am not alone. The ATO's letter advising people that their PAYG Instalments have changed, is terribly worded, and invites fear and panic in the minds of tax payers, who inevitably call their tax agent for clarification.

The wording is "Your estimated tax (notional Tax) is $25,000. You need to pay this amount by quarterly instalments"

9 times out of 10, the taxpayer reads this as $25k every quarter!!!!!!!

If every tax agent in Australia has had as many phone calls about this issue as what I have, then this is a significant waste of resources and a negative affect on our productivity.

Could I suggest that the wording be altered to "Your estimated annual tax is $25,000. You need to pay this amount by quarterly instalments of $6,250"

 

 

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Best answer

Moderator

Replies 0

Hi @Burhead,

 

Thanks for getting in touch with us, this is really valuable feedback. We always we want to know when things aren't working for you and we appreciate you taking the time to let us know about this. We've forwarded this on to our PAYG Instalments team Smiley Happy

 

Thanks, NateH

1 REPLY 1
Highlighted

Best answer

Moderator

Replies 0

Hi @Burhead,

 

Thanks for getting in touch with us, this is really valuable feedback. We always we want to know when things aren't working for you and we appreciate you taking the time to let us know about this. We've forwarded this on to our PAYG Instalments team Smiley Happy

 

Thanks, NateH