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Michael Pope Blog post by Michael Pope

PAYG Withholding Variation Option

In simplistic terms this means the ATO is happy to help you from a cash flow point of view in meeting your money needs throughout the course of the new financial year.

Michael Pope—Empower Wealth’s Money & Wealth Planner thinks it’s a real positive for investors.

“Most people opt to get a nice little bonus come tax return time, but effectively, getting this money in your hand earlier rather than waiting for a refund, mean we have options in how this money is used to assist with effective money management, like paying down non-deductable debt sooner. It’s just a smarter use of your money, than waiting for a lump sum at the end of each financial year”.

For more information about this option contact your Tax advisor or visit the ATO—www.ato.gov.au

Categories: Money Management

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