Show at K the total of the fund’s PAYG instalments for 2015–16, whether or not the instalments have actually been paid.
Include the following amounts in the total instalment amount:
- If the fund did not vary but used the instalment amounts worked out by us, show the amounts pre-printed at T7 on the fund’s quarterly activity statements or at T5 on the annual instalment activity statement.
- If the fund did not use the instalment amounts worked out by us, include the amounts which the fund reported at 5A on the fund’s activity statements, reduced by any credits the fund claimed at 5B.
To ensure the fund receives the correct amount of credit for its PAYG instalments, make sure all of its activity statements are finalised before lodging the tax return. If the fund is required to lodge its activity statements, it should do so even if it can’t pay on time, or had nothing to pay.
The fund is entitled to a credit for its PAYG instalments, even if it has not actually paid a particular instalment. However, the fund will be liable for the general interest charge on any outstanding instalment for the period from the due date for the instalment until the date it is fully paid.