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  • Pay as you go instalments

    Pay as you go (PAYG) instalments are used to collect amounts towards your expected tax liability on your business and investment income during the income year.

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

    Certain special rules apply to primary producers' liability for PAYG instalments.

    Averaging provisions

    If the averaging provisions apply to your income, the instalment rate or amount we work out for you will take your entitlement to income averaging into account.

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    Farm management deposits

    If you make a farm management deposit, your instalment income for that period is reduced. Withdrawals from farm management deposit accounts must be included in your instalment income.

    See also:

    Forced disposal of livestock

    If you are forced to dispose of livestock in circumstances where you are entitled to choose to return the proceeds of the sale over five years, only the amount assessable in the income year you are forced to dispose of the livestock is included in your instalment income.

    See also:

    Payment options

    As a primary producer, you may be eligible to pay two PAYG instalments per year rather than four

    You may be eligible to pay an annual instalment if certain conditions apply. We will tell you what options are available to you.

    See also:

    Last modified: 24 Aug 2016QC 42318