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  • Reporting PAYG instalments on a company tax return

    If you are completing your client's company tax return, use the following tips to get it right.

    Report PAYG instalments correctly

    You must include the total of the company’s PAYG instalments for the income year at label K of the calculation statement. This is regardless of whether the instalments have actually been paid.

    If your client used the instalment amounts worked out by us and did not vary them, use the amounts pre-printed at:

    • T7 on the company’s quarterly activity statement, or
    • T5 on its annual instalment activity statement.

    If your client did not use the instalment amounts worked out by us, use the amounts the company reported at 5A on its activity statements, reduced by any credits it claimed at 5B.

    Do not include 'wash-up' or residual payments

    Only use label K to record the monthly, quarterly or annual instalments raised during the financial year. The amount must not include ‘wash-up’ or residual payments.

    Reporting other credits

    Do not include PAYG instalment amounts at label H7. It is for other credits, such as the company’s share of credits from a partnership or trust for tax withheld where an ABN was not quoted.

    See also:

      Last modified: 22 Mar 2018QC 47461