How to vary pay as you go (PAYG) instalments

Step 6: complete your activity statement

• Write your quarterly instalment income at T1.
• Write your varied instalment rate (from step 4) in box T3.
• Work out the instalment amount by multiplying T1 by T3. Write the answer in boxes T11 and 5A.
• Write your variation reason code in box T4 (see the list of reason codes). Do not leave T4 blank.
• If you wish to claim a credit for one or more previous instalments (step 5), write the credit amount in box 5B.
• Complete any other questions you are required to complete.
• If you are satisfied that the information you have provided is not false and misleading, sign and date the activity statement.

Sections within How to vary your instalment rate (option 2)

• Step 1: decide whether you want to vary
• Step 2: estimate your business and investment income (also known as instalment income) for the year
• Step 3: estimate the tax on your business and investment income for the year
• Step 4: work out your varied instalment rate
• Step 5: work out any credit from previous instalments in the current income year
• Step 6: complete your activity statement
• Step 7: lodge and pay