ATO to contact small business operators and tax professionals about PAYG instalments
08 Sep 2009
The ATO advises that in the coming months, it will be contacting business operators and tax professionals who have clients in the $2m–$10m turnover market. The ATO says that the purpose of these phone calls is to gain an understanding of the reasons behind instances where the amount of pay as you go (PAYG) instalment received for the quarter under review is significantly different from previous PAYG instalments.
The ATO also says that it is important in this economic climate that businesses ensure they are not paying more than necessary and may choose to vary their PAYG instalment rate or instalment amount.
For more information, refer to the ATO publication "How to vary pay as you go (PAYG) instalments", which may be found here