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Paying Tax Quarterly – BBQ Talk 29

Why has the ATO asked me to start paying tax quarterly?

 

Ans (Rika from Affinitas)

If you’ve received a tax bill after finalising a previous years tax return, the ATO may require you to start making prepayments of tax towards the following tax year. This is based on what your tax payable was for the previous year plus an increase for CPI.

You’ll generally have to pay these each quarter, however they can be varied if your circumstances have changed. If you receive one of these pink forms, please contact our office to review your circumstances and what your options are.

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!

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