![]() The longer you take to pay off your debt, the more interest you'll need to pay. This tool also helps you work out how quickly you can pay off a tax debt and how much interest you’ll be charged. You can use our online payment plan estimator to calculate a payment plan you can afford. how much you can pay to meet each scheduled instalment (including interest on any overdue amounts).negotiating payment plans for all debts.how much you can pay now and when you'll be able to pay in full.if you can pay the tax debt you owe then you should pay in full now.When thinking about setting up a payment plan you need to consider: What to do before setting up a payment plan ![]() ![]() You still need to lodge your activity statements and tax returns and pay any associated liabilities on time.You can make additional voluntary payments or pay off the debt at any time.General interest charge (GIC) will accrue until the debt is paid.Any tax credits and refunds you receive will be used to reduce your tax debt ( offsetting) - it doesn't replace the required instalment payment.If you have multiple overdue tax debts, your payment plan may default and you will need to pay any tax debt in full or set up payment plans to avoid defaulting or debt recovery action.If you can, you should pay the tax you owe in full and on time.Important information for taxpayers entering a payment planīefore entering into a payment plan you need to be aware of the following: registered tax or BAS agents on behalf of their clients.Within a payment plan, you pay an agreed sum of money weekly, fortnightly or monthly until the balance is cleared. If you can't pay what you owe in full and on time, you may be able to set up a payment plan.Ī payment plan allows you to break down your payment into smaller amounts that are made via instalments and are spread over the shortest possible fixed period of time to minimise general interest charge (GIC) which will continue to accrue.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |