You can generate a TaxFlow report in TaxPlan to show you the next 18 months of a client's tax payments.
Create your TaxPlan
After creating your TaxPlan and adding the strategies you want to recommend to your client you can generate your report.
Click PAYG Settings and select your options using the table below.
When you're happy with your choices, click Done.
These options allow your to adjust the starting date for the reporting period.
Option | Selection |
Include PAYG Instalments for the current FY | Yes |
PAYG Calculations | Auto |
Timing of PAYG instalments | Drop-down menu with options |
Current financial quarter | Drop-down menus with options |
FY Tax + PAYG Instalment - Forecasts
The report outlines information about forecasts and how PAYG instalments will be used as prepayments for your client's next year's tax return.
Scroll to FY Estimated Tax Position for the estimated, itemised tax position for the FY, populated directly from your TaxPlan.
Go to the heading FY Forecast Tax Payments for forecasts starting in January FY, separating the trading company showing any tax payable or refund for FY, FY tax PAYG instalments, FY PAYG instalments, and any amount payable on an ATO tax repayment plan.
At the end of the report, it's stated that these are estimates only and the final amounts may change.
📌 Note: There's a 6% GDP uplift added for FY PAYG instalments.