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  • No GDP adjustment for 2020–21 PAYG and GST instalments

    Every year we adjust GST and pay as you go (PAYG) instalment amounts using a formula known as the gross domestic product (GDP) adjustment.

    A recent law change means there is no GDP adjustment to work out quarterly GST and PAYG instalment amounts for the 2020–21 income year. This change is in response to COVID-19.

    If you are a taxable NFP in the PAYG instalment system, and you think your organisation will pay too much tax for the 2020–21 year, you may need to vary your instalments. PAYG instalment variations made in 2019–20 won't carry over into the new income year.

    You can lodge your variation through:

    Calculating and paying the right PAYG instalment amounts will help you manage a healthy cash flow.

    GST instalments can continue to be varied on your quarterly activity statement.

    Find out about:

    Last modified: 29 Jul 2020QC 63281