You guessed it - I was the kid at the front of the class with her hand in the air, way too keen to answer the teacher’s questions. I would draft essays in advance. I loved homework. Obviously this isn’t everyone’s experience of school, but one thing I hope you’ve learned...

PAYG-W

PAYG-W stands for Pay As You Go Withholding. These are tax amounts that the employer withholds from their employees' salary and wages, to then be paid to the ATO on their behalf. Businesses also withhold money from contractors who might have voluntary agreements in place and...

PAYG-I

PAYG-I stands for Pay As You Go Instalments. They are like instalment or pre payments the ATO kind of make you pay towards your end of year income tax debt. 

We like these because they help us (force us) to put money aside for tax. Instead of it sitting in our bank, teasing us...