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Suite 139/243 Pyrmont Street, Pyrmont NSW 2009

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How does my Tax Return affect my PAYG Instalments?

Tax tips, accounting, PAYG Instalments, bookkeeping, small business, nudge accounting, startupsSo you have been organised this year and have prepared the Income Tax Return for your small business. Last year was a great year, which means that you are stuck with a tax bill. At first you think lets lodge it on the last day so I can defer paying the tax as late as possible.

What does this mean for the quarterly PAYG Instalments you have to pay?

Lets look at an example:
A small business works out the taxable income for the year ended 30 June 2014 is $100,000. Company income tax on this is $30,000.

The company has paid quarterly PAYG Instalment of $2,000 per quarter. The total PAYG Instalments is $8,000.

On this basis, the balance of the income tax payable when the return is lodged is $22,000.

Depending on when the income tax return is lodged, the small business will need to make a catch up PAYG Instalment in that quarter. What this means for the PAYG Instalments is as follows:

(a) If the income tax return is lodged in the September 2014 quarter, the quarterly PAYG Instalments going forward will be approximately $7,500 per quarter.

(b) If the income tax return is lodged in the December 2014 quarter, the quarterly PAYG Instalment for the December quarter will be approximately $13,000, then $7,500 for the following quarters.

(c) If the income tax return is lodged in the March 2015 quarter, the quarterly PAYG Instalment for the March quarter will be approximately $18,500, then $7,500 for the following quarter.

(d) If the income tax return is lodged in the June 2015 quarter, the quarterly PAYG Instalment
for the June quarter will be approximately $24,000.

Bear in mind for the above example that the quarterly instalments remain at $2,000 per quarter until the income tax return is lodged.

So in summary, once a return is lodged, the ATO will reassess the quarterly PAYG instalments. We just need to be aware of how this is calculated so business cash flow for the rest of the financial year is not so lumpy.

This Tax Tips Tuesday is brought to you with love by Nudge Accounting. You can read more about PAYG Instalments and other Tax Tips here.

Do I still benefit from deferring lodgement of my business tax return?

Tax tips, accounting, Business tax return, bookkeeping, small business, nudge accounting, startupsMost small business who are in touch with their financials will have an idea if they have a hefty income tax bill looming. Some of these guys will try to get in early with their accountants to find out exactly how much they need to pay in income tax, even though the business tax return might not be due until May of the following year. Once the balance of the income tax has been worked out, the general rule was “lets hold off lodging until the return is due”.

The problem that this creates is the surprise PAYG Instalment, which is also known as the “catch-up” PAYG Instalment.

Once the business tax return is lodged, the ATO will re-assess the quarterly PAYG Instalments the small business needs to make. If the lodgement of the income tax return is deferred until May (the last quarter of the financial year), then the “catch-up” payment will also fall into the last quarter, which means there would be a significant payment in July, which is when the June quarter activity statement is due. Continue reading “Do I still benefit from deferring lodgement of my business tax return?”

We Are E.S.T. 2012

Who WE Are

At Nudge, we do it all for your small business: bookkeeping, accounting and tax. we can also help you with tax advice, company setups, personal tax, monthly performance summaries and specialist advice for small business owners. All work is completed by Aussie Accountants so you’ll never have to worry about compliance again.

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With the uprising of technology and the plethora of competition in the majority of industries, business owners tend to seek help and assistance in managing and tailoring their business to suit the era’s needs and expectations. The process of accounting provides reports that bring key financial indicators together. Understanding financial concepts and gearing clients to financial success is what we exceed at here at Nudge Accounting.Our expertise lingers throughout the field of online accounting and engulfs all financial cases. With years of extensive experience and a dedication for our clients success, we endeavour to evolve our existing methodologies, in order to transform into Australia’s leading online financial firm.

OUR COMPANY Commitment

A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of any business. Nudge Accounting takes pride with their online bookkeeping and online accounting services that encompass all aspects and sectors of finance to ensure our clients receive the utmost finest service. Commitment is an attribute we stand for as client satisfaction is always key to evolution.Our reliability is second to none, as we ensure our clients are well organised and pursuit their financial tasks with accuracy and precision. Nudge Accounting propelled their excellence and with their dynamic team of online accounting professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.


Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. This is what portrays our excellence and gears Nudge Accounting towards success. We ensure client satisfaction, by going through all the details and explaining financial situations to our clients. Engaging the client is what makes us stand out!Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you! Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand!


Nudge provide exceptional accounting service and support whilst remaining price competitive. All of our packages provide the same great features for your small business accounting needs, which includes:

  • Performance Management Reporting
  • Annual Tax Return Preparation and Lodgements
  • Annual Financial Statements
  • Financial Monthly Statements
  • QTR BAS Preparation and Lodgements
  • Monthly KPI's to Identify Improvement Areas


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