PAYG Instalment Estimate Worksheet.
Could we get a PAYG Instalment worksheet please, with an option to tick if a client is a new entrant to the PAYG instalment system and a field where we can enter the expected lodgement date of the tax return. These fields can then drive the PAYG instalment estimate for the current financial year.
Currently Xero just estimates the instalments for the four quarters which isn't always correct. For example if we lodge a return in November and the client is entering the PAYG instalment system for the first time, there's no way to zero out the September quarter without it automatically increasing the December quarter.
Furthermore if we had an option to indicate the expected lodgement date, if we aren't lodging until April then Xero can calculate nil instalment for Sep, Dec, Mar quarters and the correct amount for the June quarter.
Clayton Mitchell
shared this idea
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Hardeep Singh
commented
Agreed, adding a PAYG worksheet with new entrant option and expected lodgement date fields would make instalments more accurate.
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Bree Mollard
commented
I agree with this improvement. The benefits are clear and would then create more meaningful information for clients.