I find it difficult to fund my rental property through the year because it is negatively geared. I always get a big refund though, I wish there was a way to spread it out throughout the year.
Ans (Tammy from Affinitas)
You’re in luck. This time of the year we do PAYG variations for many clients who are in your situation. These variations require a detailed estimate of your tax outcome for the year which is submitted to the tax office. The tax office then contact your employer and request they alter your tax rate, meaning less tax is taken out of your pay and more is paid to you. This helps with cash flow throughout the year but does mean that you won’t get the big refund at the end of the year.
If you think PAYG variations might help your cash flow, please contact us for more information so we can make sure it would benefit you.
If you are interested in the services that we offer and would like to have a chat with one of our friendly staff, please contact us on 3359 5244, visit our website or come see us in our Aspley Office and let us explain what we can do for you!