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Agree. In one client example her income will be low in the successive year so tax rate = Nil.

Very funny :D Its assessable in the following tax year on receipt. The ATO have a process of data matching such amounts so omission is detected later. The old HECS one wasn't assessable as it was a discount to the debt. This is interest paid to the taxpayer.

Yep. Shhh Don't tell Hockey. Once HECS debts could be discounted by 10% by pre-paying one day before assessments were issued... Swann dumped that.

Its rare tax advice that encourages taxpayers to pre-pay tax. But it does happen. Its a little known benefit that if a taxpayer pays a tax liability ahead of its due date by 14 days + the ATO pay interest. And its not a bad rate either. Was 5% (maybe 4-4.5% for 2015) One client has just...