• Variation reason codes

    When you vary a PAYG instalment on an activity statement or instalment notice, you must write a reason code in box T4.

    Choose the reason that best describes why you decided to vary your instalment amount or rate from the following list.

    Table: Variation reason codes

    Code

    Reason

    Description

    21

    Change in investments

    Your investment strategy or policy has changed and this will significantly affect your annual tax liability. For example, you sold shares.

    22

    Current business structure not continuing

    Your current business has stopped trading or has changed its structure. For example, you have permanently closed your business.

    23

    Significant change in trading conditions

    Abnormal transactions relating to your business income or expenses will significantly affect your annual tax liability. For example, you have bought a major piece of machinery.

    24

    Internal business restructure

    You have restructured your business. For example, you have expanded or contracted it and this will significantly affect your annual tax liability.

    25

    Change in legislation or product mix

    A change in legislation or the product mix of your business will significantly change your annual tax liability.

    26

    Financial market changes

    Your business has been affected by domestic or foreign financial market changes. This reason code is for businesses involved in financial market trading, including those whose income is affected by changes in financial products, for example, banks, finance and insurance businesses.

    27

    Use of income tax losses

    You will be using income tax losses, including capital losses transferred from another entity, that will significantly affect your annual tax liability.

    33

    Consolidations

    A head company can vary its consolidated instalment based on its estimate of the expected consolidation outcomes for the year. When varying as a result of consolidation, use the special variation code 33 on the consolidated activity statement.

      Last modified: 18 Apr 2017QC 16159