The Instalment Estimate worksheet is used for calculating Instalments of tax payable for Quarterly or Annual payers. An estimate of Instalment tax based on this method may be prepared from information contained in either the current or two immediate prior years’ tax returns.
Functionality of the Estimate
When the PAYGI Estimate is first accessed and the relevant year chosen, amounts entered in the client's tax return will be defaulted to the various applicable fields in the Estimate work sheet. Notional Tax and an Instalment Payment summary will be calculated at that time and will be displayed on the screen.
Alternatively, the user may edit the amounts in the Estimate worksheet and Tax re-calculates Notional Tax and Instalment payments based on that edited information.
Printing the PAYG Worksheets
UI Expand |
---|
expanded | true |
---|
title | To print the worksheet |
---|
|
- Click Reports > Print Schedule.
- Select the relevant PAYGI worksheet from the Index of available schedules completed for the taxpayer.
|
Printing the Taxation estimates with PAYGI instalments
If you elect to include the PAYGI estimates when you select the [F4] Tax Estimate, then a standard estimate will be printed which contains a summary of the Instalment amounts and the dates on which they are due.