ATO Tax Payment Plans

ATO Payment Plan to Manage Tax Bills

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Struggling with how to pay your most recent Tax Bill?

If you receive a tax bill, you need to pay in full and on time to avoid interest charges. However, if you’re experiencing financial difficulties, you may be eligible to set up a payment plan.

If you can’t pay what you owe in full and on time, you may be able to set up a payment plan.

A 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. Within a payment plan, you pay an agreed sum of money weekly, fortnightly or monthly until the balance is cleared.

Who can enter into a payment plan:

  • individuals
  • sole traders
  • businesses
  • registered tax or BAS agents on behalf of their clients.

Head to the ATO’s payment plan page to find out things to do before setting up a payment plan and how to set up a payment plan.

If you have any questions or queries about your Tax Situation don’t hesitate to get in contact with us at STS Accounting.