It’s quite usual for most businesses to have at some stage ATO payment plans. This is the case for a number of our clients.
In the current environment we have a number of options, which can give financial relief for those on a payment plan with the ATO.
We can cancel the current payment arrangement and set up new one. We can reset new payment arrangement based on your current situation.
We can update the monthly amount, but if you need to change all the monthly payments, please give us as much warning as possible
We can now do payment arrangement 24 months with ATO, even 36 months but we need to provide monthly income and expense to ATO for application. Understand that if your business circumstances have changed then we have to look back on the last period and explain why the coming few months will be different.
ATO payment arrangement interest free: We confirm with ATO but we understand that defaulted interest is free up to 22.01.2021 (We currently need to apply for it from ATO)
Defer ATO payment, if business is affected by coronavirus, ATO allows defer payments 4-6 months, but we need a reason. But we need more detail information.
Please appreciate that
Dealing with the ATO is slow as you can get they will be under a lot of pressure, but we will get your case presented and try and get your changes if required.
If during a deferment or other arrangement that we have for you, you have the funds, we suggest that you put them aside, knowing that the ATO will want to be paid.
The debt is expected to be paid and that there isn’t any ATO debt forgiveness in the package.
Our experience with the ATO – We have seen in the past with say the fires, especially in 2008 that the ATO stood back and gave the period of grace to those who had businesses in the fire. But they don’t forget and do come back wanting compliance and payment.
This opportunity to use debt to the ATO as part of a cash plan is great as long as we all recognise that repayment is still required eventually.
We want to work with you on this