Paying your tax debt by lindash

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									                    I N F O R M A T I O N

                   Paying your tax debt
How do you know how much you have to pay?                      The ATO will also want to know what steps you have taken
                                                               to obtain funds to pay your debt and what steps you are
Your notice of assessment will tell you how much tax you       taking to make sure you meet future tax debts on time.
have to pay, if any, and when you must pay to avoid being      You may be given extra time to pay, depending on your
charged a penalty for late payment.                            particular circumstances.




                                                                                                                                  PAYING YOUR TAX DEBT
                                                               If we allow you to pay your tax debt late, you are required
When do you pay your tax debt?                                 by law to pay interest in the form of a GIC. The GIC is
                                                               set according to market rates and is tax deductible in the
The due date for payment by individuals has changed
                                                               income year that it was incurred. The law also provides for
compared to previous years, when the earliest day for
                                                               remission of the GIC in limited circumstances. This means
payment was 1 December. The earliest due date for any
                                                               that the Commissioner of Taxation may excuse you from
personal income tax debt for 2000–01 is 21 November 2001.
                                                               all or part of the GIC. Ring the debt collection helpline for
If you lodge your tax return by 31 October 2001 you            further information.
must pay your tax debt on or before the date specified in
your notice of assessment. General interest charge (GIC) is    What if payment will cause you serious hardship?
imposed on any amount not paid by the due date.
If you do not lodge your tax return on time, the law treats    Serious hardship exists when you are unable to provide
your tax payable as being due on 21 November 2001. If you      food, accommodation, clothing, medical treatment,
have tax to pay on assessment the GIC is imposed from that     education or other necessities for you or your family or
due date.                                                      other people for whom you are responsible.
                                                               You can apply to the Tax Relief Board for a release from
Where do you pay your tax debt?                                payment of your tax debt. The ATO can give you further
                                                               information and an application—ring the debt collection
The methods for payment are set out on the back of your        helpline on 13 2550.
notice of assessment. If you need more information, ring the
                                                               The Tax Relief Board will consider your application and
cash management helpline on FREECALL 1800 815 886.
                                                               decide whether to grant you a release. With some larger
Please note, the Australian Taxation Office (ATO) does not      debts you may need to appear before the Administrative
accept payment by credit card.                                 Appeals Tribunal before the board can consider the matter.
                                                               Even if you lodge an application, action may still be taken to
What if you don’t agree with your assessment?                  recover your unpaid tax debt.

You must pay your tax debt on time even if you have lodged     Need more information?
an objection or asked for an amendment. If the objection
is decided in your favour, you will receive a refund of the    The Taxpayers’ Charter explanatory booklet 15—Paying your
amount you have overpaid plus interest.                        taxes (NAT 2563—7.99) contains more information. To find
                                                               out how to get this publication, see the inside back cover
What if you cannot pay your tax debt on time?                  of TaxPack.

If you cannot pay your tax debt on time, you should contact
us via email at debtpayment@ato.gov.au or ring the debt         Note      For all other general account enquiries ring the
                                                                          Personal Tax Infoline on the inside back cover
collection helpline on 13 2550 and explain your reasons.                  of TaxPack.
In some circumstances you will need to provide written
details of your financial position, including a statement of
your assets and liabilities and details of your income and
                                                                                                                                TAXPACK




expenditure.



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