The ATO have closed off the 2016 variations and now have the 2017 variation process ready to go. For those who have any interest I have a client checklist which can be a good basis to collect the data for the return. Update : For those that arent aware... A PAYG Variation is a way of estimating your 2017 year tax position so that losses from neg gearing etc (or other tax issues such as allowances etc) can be pre-estimated so that the employer tax that is deducted is adjusted to a lower level. The ATO write to the employer and advise a (fixed) % of tax rather than the normal tax scales applying to wages. The strategy is that this can improve cashflow by bringing forward SOME NOT ALL of the tax refund into lower employer tax of wages for each owner if they choose. There are some catches: - Dont ignore capital gains - Allow for unexpected or expected change in income (eg maternity, return to work, bonuses, employee shares at a discount etc) - Monitor the estimate made. If matters change the variation can be varied. - Be conservative. Dont estimate repairs etc. Leave that deduction until year end etc Some taxpayers prefer to wait to year end. Some blend a bit of both.