*PAYG instalments – GDP adjustment for 2014–15 is 4% [62]

Each year, the ATO adjusts PAYG instalment amounts using a formula that takes into account the expected growth in the economy. For the 2014-15 income year, the ATO has advised that the GDP adjustment used to work out taxpayers’ quarterly PAYG instalment amounts will be 4%.

[LTN 123, 30/6/14]