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Activity statement update - Quarter 1 2011-12

 
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PAYG instalments uplift factor reduced

Recent legislation reduced the gross domestic product (GDP) adjustment factor for 2011-12 pay as you go (PAYG) instalments from 8% to 4%.

The reduced percentage applies to taxpayers whose 2011-12 income year starts on or after 1 April 2011. The GDP adjustment to PAYG instalments is made annually, based on economic data.

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For more information, go to www.ato.gov.au and search for 'QC16362'.

Last Modified: Thursday, 8 September 2011
 
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