ITWV

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An Income Tax Withholding Variation (ITWV) was previously known as a Section 221YD variation. It is an annual application made to the ATO to vary the amount of tax withheld from your salary each pay period by your employer. The variation is valid for the whole of the financial year (1 July to 30 June next) If lodged part way through the year it also takes into account the amount of tax withheld from your salary to date of application.