Did you know you can set up a payment plan via myGov?
If you ever receive a ATO liability and you are unable to pay the amount in full on time, you may be able to set up a ATO payment plan to pay via lump sum or instalments.
Did you know this can be done via your myGov online services account? How?
sign into your myGov
select Australian Taxation Office (ATO)
select heading Tax - Payments - Payment plans
select Add +
select account - Income Tax or Activity Statement
select amount - full balance or overdue
select payment method
then you are ready to set up your payment plan - frequency and amounts
Please note, once a payment arrangement is in place, the ATO have some payment plan conditions: one of them is that you will need to lodge and pay your activity statements and tax returns on time. Please also note, if you set up your own payment arrangement, this may reduce your accounting fees.
If you have any questions regarding setting up a payment plan, please do not hesitate to contact our office.