PAYG VARIATIONS
If you are employed, your employer is required to withhold tax during the year to cover your estimated tax liability from your income- this is called your PAYG withheld amounts
But those who have a negatively geared property will have less taxable income than their employer estimated, which of course you get back when you do a tax return at the end of the year.
You can lodge a PAYG Withholding Variation which will direct your employer to withhold less tax from your pay and give you more cash during the year.
This is an efficient tax strategy that can free up extra cash sooner to reduce debt, place into your offset account or invest.
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Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.
The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.
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