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# Estimating interim payments

Find out about estimating interim payments.

If we calculate your interim payments for you (standard option), but you think your income for the next year will be less than last year’s, you can estimate your interim payments to a lower amount (including nil). Your estimate must be based on what you reasonably expect you'll receive from your adjusted net income.

For 2015 and future tax years you need to ensure that you take into account the additional types of income required when making your estimate.

Once you've estimated your interim payments you can't change back to the standard option for the rest of the year. However, you can re-estimate as many times as you like up until your final interim payment date

### If your estimate is less than what you needed to pay

You may be charged an under-estimation penalty if the repayment obligation on your adjusted net income when your income details are finalised for the tax year is more than the amount you estimated. So it's important to make sure your estimate is accurate.

When estimating your interim payments you'll need to complete our Student loan interim payment estimation (SL3E) form and send it in to us. You'll get a statement from us confirming the new interim payment amounts and dates within 15 working days.

You'll need to estimate your total adjusted net income (including the additional income types) you expect to earn. You'll also need to estimate how much you expect to earn from salary or wages (if any).

#### Examples of completing the SL3E

##### Example 1

John's 2015 interim assessment based on his 2014 income is \$3,500. However, John has sold part of his business and doesn't expect to earn the same amount of income for the 2015 tax year.

John estimates he will earn \$30,000 from his income as a self-employed painter and he also has a loss of \$5,000 from his rental property. In addition, he has a part-time job working in a paint shop where he expects to earn \$15,000 in wages for the year.

John has to show his adjusted net income in box 4 as \$30,000, because he can't offset his rental loss.

 Annual repayment threshold A \$19,084 Enter the amount you expect to earn from salary or wages (excluding any casual agricultural or election-day work income). B \$15,000 if B is more than A enter 0 otherwise enter the sum of A minus B C \$4,084 Enter your estimated adjusted net income (including any casual agricultural or election day work income and the additional income types) D \$30,000 D minus C (this is your total liable income) E \$25,916 Multiply E by 0.12 (12%).  Is this less than \$1,000? Yes - enter 0 No - enter the amount This is your total estimated interim payment F \$3,109.92

##### Example 2

Rachel's 2015 interim assessment based on her 2014 income is \$2,500. However Rachel has used nearly all of her investment income to buy a house and estimates she will only earn \$2,000 in interest. Rachel also estimates she will earn \$50,000 income from her salary.

 Annual repayment threshold A \$19,084 Enter the amount you expect to earn from salary or wages (excluding any casual agricultural or election day work income and the additional income types). B \$50,000 if B is more than A enter 0 otherwise enter the sum of A minus B C \$0.00 Enter your estimated adjusted net income (including any casual agricultural or election day work income and the additional income types). D \$2,000 D minus C (this is your total liable income) E \$2,000 Multiply E by 0.12 (12%),  Is this less than \$1,000? Yes - enter 0 No - enter the amount This is your total estimated interim payment F \$0.00