What payments does a two-instalment payer make?
A two instalment payer pays their PAYG and GST instalments in two payments not four, with 75% of the annual amount being payable in the third quarter activity statement and the remaining 25% in the fourth quarter activity statement. I am a partner in a primary production partnership. My partnership is eligible for and has chosen to use the GST instalment option. As an individual partner, I have chosen to use the GDP-adjusted notional tax method to work out my instalments. How many GST instalments does my partnership pay? How many PAYG instalments do I pay? As long as the partnership has made a net profit from its primary production activities, it will pay two GST instalments. Similarly, you will pay two PAYG instalments provided that you have derived a net profit from the primary production activities.
