How to vary pay as you go (PAYG) instalments

Allowable deductions

When you are estimating your allowable deductions, include your estimate of your allowable deductions, such as:

• work related expenses
• business expenses
• interest and dividend deductions
• gifts or donations
• the deductible amount of an undeducted purchase price of an Australian pension or annuity
• the cost of managing tax affairs
• tax losses of earlier income years
• other allowable deductions.

Sections within Estimating the tax on your business and investment income

• Income
• Allowable deductions
• Tax on estimated taxable income
• Tax offsets (other than refundable tax offsets)
• Foreign income tax offsets
• Net tax payable
• Medicare levy
• Net tax payable after applying Medicare levy and foreign tax credits
• Compulsory HELP repayment
• Compulsory Financial Supplement repayment
• Refundable tax offset
• Estimated tax credits
• Tax on business and investment income