Get back on track with a payment plan

Did you know that small businesses and sole traders who are having trouble paying their taxes can set up payment plans?

A payment plan is a practical way to meet your payment obligations. It allows you to break down your payment into smaller, manageable amounts that you pay over an agreed period of time. You pay an amount every week, fortnight or month until the balance is cleared.

If you owe $100,000 or less you can set up a payment plan using ATO online services via myGov (if you’re a sole trader) or Online services for business (for other businesses). Your registered tax agent can also set up a payment plan on your behalf using Online services for agents.

Eligible small businesses that owe overdue activity statement amounts may be able to pay them off interest-free over 12 months.

If you owe more than $100,000 or can’t afford a payment plan offered online, you can contact ATO on 13 11 42 during their operating hours to discuss your options.

Source: ATO