PAYG instalment income - trusts

What are PAYG instalments?

Pay as you go (PAYG) instalments are a system for businesses and individuals to pay instalments of their expected tax liability on their business and investment income for the current income year.

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

The dates given in these instructions are based on a balancing date of 30 June, which is when most taxpayers in Australia balance their accounts.

Contact us or a registered tax or BAS agent if you think these instructions do not fully cover your circumstances. For more information about PAYG instalments, refer to Introduction to pay as you go (PAYG) instalments (NAT 4637).