How does the PAYG instalment system work?

The Holistic Accountant

In this episode, Stuart and Mena discuss how the PAYG instalment system works for all taxpayers including business owners.

• What is the PAYG instalment system.
• How does the ATO work out instalments?
• Are there any downsides to not paying instalments (catch up tax, imputation credits).
• How can you vary instalments?
• What to do if you have overpaid your tax.

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.