Help with paying ATO Debts
If you can’t pay your tax on time, you need to talk to us as early as possible so we can work together to find a solution before the debt becomes unmanageable.
The ATO will also need to know more about your financial circumstances so we can work with you to set up a payment plan that is manageable and suits both parties. For example, they may need to know:
- how the debt arose
- why you haven’t been able to pay it
- how you plan to pay it
- what you can afford in instalments
- how often you can pay instalments
- when you can make your first payment
- what you’ve done to avoid these circumstances in the future
- who you bank with and the balance of your account
- whether you have an overdraft facility
- your average monthly income and expenses
- your major assets and liabilities
- whether you can sell or borrow against an asset to clear the debt
- what type of business you operate (where applicable)
- details of your current debtors and creditors (where applicable).
Follow the link below for more details
https://www.ato.gov.au/Business/Payments-to-ATO/Help-with-paying/
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