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PAYG Withholding Variations

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PAYG Withholding Variations

Would you benefit from improved cash flow? PAYG Withholding Variations give individuals the opportunity to reduce their pay as you go (PAYG) tax withheld from their pay where they are entitled to substantial deductions on investment income or significant tax offsets.  This means that you don’t have to wait until July to apply for your tax refund, you can essentially receive the immediate additional cash flow by reducing the tax that is deducted from your regular pay. If you have negatively geared investments such as:

  • Rental property
  • Shares
  • Managed funds

Or large tax deductions such as:

  • Motor vehicle
  • Work related study
  • Work related travel
  • Allowances

You may benefit from a PAYG Withholding Variation. It is as easy as one of our accountants submitting a form to the ATO on your behalf. The ATO will liaise with your employer and a reduced PAYG tax rate will be established and deducted from your salary. If you think that you could benefit from a PAYG Withholding Variation, and would like advice or assistance in lodging a PAYG Withholding Variation form,  contact our accounting team on 1300 726 082 or click here.

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