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HOW DOES THE INSTALMENT RATE X INSTALMENT INCOME FORMULA WORK?

April 26, 2017Formula income instalment rate

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HOW DOES THE INSTALMENT RATE X INSTALMENT INCOME FORMULA WORK?

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10 Posted

Instalment rate (%) A percentage figure worked out by the ATO and pre-printed on your Activity Statement. You can vary the instalment rate. X Instalment income ($) A dollar amount worked out by you – this is your ordinary income for the quarter (or the year, if paying annually). = Instalment amount ($) The amount you pay with your activity statement. You work this out by multiplying the instalment rate by your instalment income.