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2015/16 Variation Checklist
Our 2015/16 Variation checklist is now uploaded to our website. if you have not already done so, now is the time to request a 2015/16 PAYG Withholding Variation. A new variation must be submitted every year, they do not follow-on from the previous year.
One way in which a property investor can improve their cashflow is by lodging a PAYG variation. A PAYG variation is an application to the ATO requesting that your employer reduce the amount of tax withheld from your regular salary or wage payments, to reflect the expected rental loss from your investment property.
This is effectively a way of reducing the amount of tax you pay each payroll cycle, rather than receiving a large lump sum refund at the end of the financial year, and can be a great help in making mortgage repayments and cash flow.
Go to Resources, Taxation Checklists to download your Variation Checklist. Call or email us if you would like more information.