ATO Debt Payment Plans

Regardless of their size, most businesses need to obtain a payment plan for tax debt, BAS, or any other debt from the ATO. Securing one can be daunting, seeing as you may already be financially stretched. Loan Saver Network can help with large tax debt negotiations. Consider the following summary, when securing a debt payment plan with the ATO:

Summary: ATO Debt Payment Plans

  1. Automated Approach for tax debt <25k.
  2. Preferred 18 Month Term (Max 2 year term)
  3. Personal Circumstance required as a reason.
  4. Budget must meet payment plan + ongoing obligations.
  5. At times a 20% upfront payment is required to enter an arrangement.
  6. Superannuation debt has more diligent attention and action.

Read below for further information on establishing an ATO payment arrangement, or complete the form below for specialist advice of payment plans.

If you have failed a payments plan, or rejected for an ATO payment plan then contact Loan Saver Network on 1300 796 850 or request a free consultation via the form below.

Let's talk about a solution that suits you

The Automated Approach

If your tax debt is under $25,000, you can contact the ATO and be directed to an automated service to request, extend, or manage your payment terms.

The number to contact the ATO is: 13 72 26

Approaching the ATO

Be on the front foot. Do not allow your agreements to lapse before calling them. Call ahead of time, and contact them as possible if you cannot meet any agreed payment before the required date.

Preparing for discussion with the ATO

Know the limits of your payment. What, when, and how will you complete your payment? Plan to request your lowest monthly payment amount, and base this on the months with the lowest cash flow, and highest expenses. This way you can be sure to keep your monthly arrangement without strain.

Be aware of the following limitations:

  • The ATO prefers to have a mitigating circumstance (personal issue or illness etc), to secure a long-term payment arrangement.
  • The ATO prefers to have debt paid off in either a 12 or 18 month term, but certainly no longer than 24 months.
  • Calculate your payments using the ATO’s smartphone App ¬– search for ATO in your app store for more details.
  • Superannuation tax debt usually involves shorter payment time frames, as issues can arise with employees’ investment increases.
  • Base your payment on factual information. Do not call them before working out your budget, expenses, and surplus. If you cannot meet your deadline with them, call to request an extension.
  • Request payments over a two-year term. Make additional payments when you can, to put you ahead of your payment plan – this will allow a buffer in case you face a tough month.

Loan Saver Network Can Help

If you're seeking professional debt help with your payment plans, negotiating your tax debt, or with paying out your tax debt with a tax debt loan, contact Loan Saver Network on 1300 796 850 today.

Feel free to contact Loan Saver Network to discuss payment plans, negotiation of Tax debt, and paying out your tax debt with a tax debt loan. You can call us on 1300 796 850.