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Re: Instalment Activity Statement

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Hello, I'm Jonghyun Jeong.

 

I got a instalment activity statement from 1st July to 30 September 2017.

 

But I don't use my ABN that days. And I already done my tax return in July.

 

Can you let me know how can I sove this problem please?

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Devotee

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Hi  @hyuny332

 

@Coffee_unspilt is right, you need to cancel your ABN if you have'nt already done that, When we cancel the ABN via phone we will also look at your roles that you may have, for example GST or Pay as you instalments.

We will remove you from the PAYG instalment system if any of the following occur:

  • you become entitled to and claim the senior and pensioners tax offset in your latest tax return
  • your latest tax return, for the most recent year of income, indicates business and/or investment income of less than $4,000 for residents or $1 for non-residents
  • you had a tax debt of less than $1,000 (after adjustments for PAYG instalments and any voluntary payments) in your most recent assessment
  • you are an individual payer who has a notional tax amount of less than $500
  • your latest tax return for the recent income year indicates Division 6AA income less than the low marginal threshold
  • you lodge a final return
  • your latest calculated instalment rate equals zero
  • your accountant lodges a 'further return not necessary' or you lodge a non-lodgment advice for the current year which is a year later than the base assessment year

As you stated you have already lodged your tax return, this may have automatically exited you from the Pay as you go instalment system, however that depends on the outcome of your return.

If you no longer need pay instalments for the 2018 expected liability then you can vary the first quarter activity statement to zero and then when you exit from the system that will not be until the following quarter - 01/10/2017

Please see, https://www.ato.gov.au/general/payg-instalments/exiting-payg-instalments/ and also https://www.ato.gov.au/General/PAYG-instalments/How-to-vary-the-amount-you-pay/

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time
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Devotee

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Hi there Jonghyun Jeong.

 

That installment activity statment is for the current financial year (2017-2018)

 

But if you no longer use your ABN you sould call us and cancel the ABN and advise us also about the Installment.

 

We will check with you if you have any other business or investiment income and may be able to exit you from the Installment system. We can also help you revise the installment to help you take care of your obligations.

 

Now is a time for action as leaveing this mount up could cause some work or unnessesary worry.

 

13 28 66 is the number to call - have your ABN or TFN ready and the instamebt statement in hand. (we can help you do it online in MyGov too!) Information can be found on the ATO website if you seach there with the code 16159

 

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time.

Best answer

ATO Certified

Devotee

Replies 0

Hi  @hyuny332

 

@Coffee_unspilt is right, you need to cancel your ABN if you have'nt already done that, When we cancel the ABN via phone we will also look at your roles that you may have, for example GST or Pay as you instalments.

We will remove you from the PAYG instalment system if any of the following occur:

  • you become entitled to and claim the senior and pensioners tax offset in your latest tax return
  • your latest tax return, for the most recent year of income, indicates business and/or investment income of less than $4,000 for residents or $1 for non-residents
  • you had a tax debt of less than $1,000 (after adjustments for PAYG instalments and any voluntary payments) in your most recent assessment
  • you are an individual payer who has a notional tax amount of less than $500
  • your latest tax return for the recent income year indicates Division 6AA income less than the low marginal threshold
  • you lodge a final return
  • your latest calculated instalment rate equals zero
  • your accountant lodges a 'further return not necessary' or you lodge a non-lodgment advice for the current year which is a year later than the base assessment year

As you stated you have already lodged your tax return, this may have automatically exited you from the Pay as you go instalment system, however that depends on the outcome of your return.

If you no longer need pay instalments for the 2018 expected liability then you can vary the first quarter activity statement to zero and then when you exit from the system that will not be until the following quarter - 01/10/2017

Please see, https://www.ato.gov.au/general/payg-instalments/exiting-payg-instalments/ and also https://www.ato.gov.au/General/PAYG-instalments/How-to-vary-the-amount-you-pay/

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time
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