Entity is a SMSF The following rules determine what period the client will be exited from PAYGI in: Cycle Criteria Date of effect of change Quarterly the current activity statement Start date of the current has not generated quarter no instalment income received the current activity statement date of the current quarter has not generated instalment income is received Activity statement has been date of the next quarter generated or despatched Annual Annual activity statement has not 1 July of current financial year generated Annual activity statement has 1 July of next financial year generated Quarterly Client is deceased From the quarter after the date Annual of death Table 10: PAYGI exit date of effect Note: Where the client’s lodgement cycle is annual and the annual activity statement has generated, the client must be advised that they are still required to lodge and pay their instalment notice when they receive it. If the instalment rate or amount on the notice does not accurately reflect the client’s expected tax liability for that financial year, they can vary the annual instalment.
Entity is a SMSF The following rules determine what period the client will be exited from PAYGI in: Cycle Criteria Date of effect of change Quarterly the current activity statement has not generated no instalment income received Start date of the current quarter the current activity statement has not generated instalment income is received date of the current quarter Activity statement has been generated or despatched date of the next quarter Annual Annual activity statement has not generated 1 July of current financial year Annual activity statement has generated 1 July of next financial year Quarterly Client is deceased From the quarter after the date of death Annual Table 10: PAYGI exit date of effect Note: Where the client’s lodgement cycle is annual and the annual activity statement has generated, the client must be advised that they are still required to lodge and pay their instalment notice when they receive it. If the instalment rate or amount on the notice does not accurately reflect the client’s expected tax liability for that financial year, they can vary the annual instalment.
ATO-ACCROLE-2017-Business-Implementation-Guide.docx