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  • Review your pay as you go instalments

    Now is a good time to check that your pay as you go (PAYG) instalments still reflect your expected end of year tax liability.

    If your circumstances have changed and you think you will pay too much (or too little) in instalments for the year, you can vary your instalments on your next activity statement.

    You can vary your instalments multiple times throughout the year. Your varied amount or rate will apply for your remaining instalments for the income year or until you make another variation.

    If you continue to be affected by COVID-19, we will not apply penalties or charge interest to varied instalments relating to the 2020-21 income year. This applies when you have made your best attempt to estimate your end of year tax liability.

    This applies to 30 June ordinary balancers for the 2021 income year and entities that have been granted a substituted accounting period (SAP). For an entity with a SAP, any variation must relate to instalments made during your 2021 income year.

    We no longer issue activity statements or PAYG instalment notices on paper once you have lodged electronically. If you vary an amount or rate online, it will result in an end to paper activity statements and instalment notices. You will need to consider this when deciding how to lodge, revise and vary future activity statements and instalment amounts.

    You should review your tax position regularly and vary your PAYG instalments as your situation changes.

    See also:

    Last modified: 10 Mar 2021QC 65030