Paying your tax debt by instalments

It is worth knowing that if you owe the Tax Office money you can enter into a payment arrangement with them. This facility applies if the following conditions are met:

	the outstanding debt is less than $25,000
	you are unable to the pay the debt off in full by the due date
	the debt can be paid off in instalments within two years and
	you have adequate funds to enter into the payment arrangement and meet any future tax obligations.

If you fear that your tax return will result in you owing the ATO an amount that you won’t be able to settle immediately, please call us to determine the best action. We can help plan the first payment date, payment frequency and payment amounts. The worst thing you can do, if you have any concerns, is to do nothing.

Published : 22 November 2006