PAYG Witholding Variations for 2010

PAYG witholding variation applications (ITWV applications) for the 2010 year are now available. For variations to be in place for 1 July 2009, applications need to be prepared and lodged with the ATO at least 2 weeks prior.

This application should be used when a taxpayer wants to reduce their PAYG witholding rate for the year ended 30 June 2010.

The application is a projection of a taxpayers income, deductions etc for the year and is designed to take into account abnormal deducions and expenditure. The most common reason for an ITWV application are:
  • Negative gearing (accounts for taxation benefits)
  • Expenditure in relation to allowances received from your employer - eg. car allowance
My Tax Zone offers and ONLINE ITWV application, making it easy for taxpayers to manage their tax related cash flow throughout the year.

For your online application ==> ITWV Online

Negative gearing and taxation benefits ==> Negative Gearing Explained

Government incentives for investors ==> NRAS - New Class of Property Investment

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