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PAYG Instalments

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PAYG Instalments – provisional tax

PAYG Instalments are not a separate tax but a way of paying your income tax as the income is received through the year. Instalments of income tax are paid during the year, based on what you expect your tax bill to be. The amount of provisional tax you pay is then deducted from your tax bill at the end of the year.

The ATO provides PAYG Instalment information at:

http://www.ato.gov.au/businesses/content.asp