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  • Varying your PAYG instalments due to COVID-19

    Due to the ongoing impacts and economic uncertainty of COVID-19, we will not apply penalties and interest on varied instalments that relate to 2021-22 income year, if you have taken reasonable care to estimate your end of year tax liability.

    This means you will need to have made a reasonable and genuine attempt to determine your liability. When considering if a genuine attempt has been made, we take into account what a reasonable person would have done in your circumstances.

    This will apply to 30 June ordinary balancers for the 2022 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 2022 income year.

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

    You should ensure the total of your instalments for the income year are as close as possible to your tax liability for that year and paid proportionally across the year.

    See also:

    Last modified: 13 Oct 2021QC 67022