How do I choose to use the GDP-adjusted notional tax option?
The amount worked out by the Tax Office will be printed on your activity statement. If you wish to pay the quarterly amount advised by the Tax Office, you make your choice when you lodge your PAYG instalment for the quarter ending 30 September 2002. Whichever option you choose for the September quarter, you must continue to use it for the remainder of the 2002—03 income year. If you pay an annual instalment you will generally continue to pay annually – you need do nothing. The Tax Office will write to you only if your situation has changed.
Related Questions
- I am carrying on an eligible primary production business and I have chosen the GDP-adjusted notional tax option. How much do I pay for each payment?
- If I choose to use instalments for GST or GDP-adjusted notional tax instalments for PAYG, do I have to use instalments for both?
- How do I choose to use the GDP-adjusted notional tax option?
