PAYG Installment - Pre-Filled is Large Amount
Hey doing my BAS and trying to understand why the pre-filled PAYGI figure is so large. My accountant is on leave so not available for the next week
Situation:
- Work 2 jobs:
- Full time employed with tax withheld = $100k before tax
- self employed = ~$45k before tax
- total tax FY24/25 = $36k ($25k withheld + $11k bill at tax time)
- minimal PAYGI FY24/25
- haven't done tax return for FY25/26 yet
- total PAYGI throughout FY25/26 to date = $4.3k
- The ATO's pre-filled PAYGI for April-June BAS is $11k
Can anyone explain why the last PAYGI of last FY is so large? I figure the PAYGIs should be something like $11k/4
I understand I can adjust PAYGI, and I will - just trying to understand the why