Managing Your Tax Debt

Understand Your Tax Debt

• Check your Notice of Assessment (NOA) for the amount owed and payment due date.
• Confirm all income and deductions were accurately reported.

Payment Options

One-Time Payment

Pay the full amount using BPAY, credit card, or bank transfer based on the details in your NOA.

Payment Plan

Set up a payment plan through the ATO directly, allowing you to pay in instalments over time.

Avoiding Penalties

• Pay by the due date to avoid interest charges or late payment penalties.
• If you're unable to pay on time, notify the ATO immediately

The ATO offers flexible payment plans for those facing financial difficulty. You can set up an instalment arrangement that works for you.

If you believe there’s an error in your tax debt, you can request an amendment.

For larger debts, it’s advisable to consult a financial adviser or tax professional.

FAQs

Q: What happens if I miss a payment deadline?
A: The ATO may charge interest on overdue amounts. It’s important to contact them as soon as possible to set up a payment plan if you can’t pay by the due date.

Q: Can I pay my tax debt in instalments?
A: Yes, the ATO allows instalment payments through flexible payment plans. You can set this up via your myGov account.