What sort of form will I receive if I am a two-instalment payer for PAYG income tax instalments?
You will receive an activity statement that is appropriate to your individual circumstances. Where you are a two-instalment payer your first quarter activity statement will show that you are eligible at label T7. No amount will be displayed at T7 for the first two quarters on the financial year. On the third quarter activity statement the amount shown at label T7 will be 75% of your annual instalment amount. The fourth quarter activity statement will show the remaining 25% of your annual instalment amount at label T7.
