Case: Reflect and handling PAYG Instalments (PAYGI) in a Company Tax Return.

Guidance:

Steps to Reflect PAYGI in the Tax Return:


1. Navigate to the "Tax Calculation" Section:

Select "Tax Calculation"


2. Retrieve Quarterly Paid Instalment Values:

  • In the "Tax Calculation" section, look for a light-blue rectangular box with the instruction: "Click here to fill quarterly paid instalment values. This will also pull your lodged activity statements for the return's year."
  • Click the blue clickable text to automatically retrieve lodged activity statements and populate PAYG instalment values.

3.  Confirm Data Retrieval:

  • After clicking, a green success message will appear:
    "Activity statements were successfully pulled for 2024 income year."
  • The "PAYG instalments raised" field will now be populated with the correct instalment values, ensuring they are credited in the tax calculation.


4. Manually Enter PAYGI if Necessary:

  • If PAYG instalments are not automatically retrieved (e.g., due to missing fields 5A or 5B in activity statements), manually calculate and enter the total PAYG instalments at Label K in the tax return.

Key Instructions for Label K:

  • Add all amounts reported at Label 5A on activity statements.
  • Subtract any credits claimed at Label 5B.
  • Ensure all activity statements for the year are lodged to avoid missing credits.

Related guide: PAYG Instalments Not Appearing in the Tax Return

For more details, refer to the ATO's Company Tax Return 2024 Instructions.

Key Notes:

  • PAYG instalments will only appear in the tax return if they are reported through activity statements that include fields 5A (PAYG instalment amount payable) or 5B (Credit from PAYG instalment).
  • If activity statements are of type GST (F) or PAYG-W (P), they do not contain these fields, and PAYG instalments will not auto-populate. In such cases:
    • Confirm instalments with the ATO via the Running Balance Account.
    • Manually account for the instalments in the tax return after confirmation.

For more details, refer to the ATO's Business Activity Statements (BAS).