PAYG instalments for individuals

Introduction

Pay as you go (PAYG) instalments is a system used to collect amounts towards your expected income tax liability on your business and investment income during the current income year.

Your actual income tax liability is worked out at the end of the income year when we assess your annual tax return. Your PAYG instalments for the year are credited against your assessment to work out if you owe more tax or are owed a refund.

This fact sheet explains when and how you pay instalments and how to work out your instalment amount.

The dates given are based on a balancing date of 30 June, which is when most taxpayers balance their accounts. Seek help from us or a registered tax agent if you think this fact sheet does not fully cover your circumstances.