Debt cases are currently no longer actioned by external debt collection agencies. Previously we referred some debts to external debt collection agencies for collection on our behalf up to April 2020. Once all your debts are paid, we'll refund any remaining credit to you.Īn offset transaction can be found on your statement of account and in your Online services account with the description Offset. For example, if you have an overdue child support payment, part or all of your refund payment may be paid to Services Australia. In some circumstances, we are required to pay your refund to other Australian Government agencies if you owe them money. In some cases, we can also use credits you receive from other government agencies to pay off your debts. You can find out more in PS LA 2011/21 Offsetting of refunds and credits against taxation and other debts. If you are in serious financial hardship, we may be able to pay the refund to you instead. There are limited circumstances in which we have the discretion not to offset. If you have a debt with us, including a debt on hold, we're required by law to use any credits or refunds you become entitled to, to pay off the debt. If your request is approved, you must include the amount of the remitted interest in your tax return as assessable income in the year it was remitted. Include the circumstances that led to your delay in payment and any steps you've taken to pay what you owe. Tell us why you think it is fair and reasonable for us to reduce or cancel your interest charges.
phoning us on 13 11 42 during operating hours – for interest charges up to $25,000.You can ask us to remit, such as reduce or cancel, some or all of your interest by:
You can generally claim a tax deduction for interest charged in the year it's incurred. Interest calculates on a daily compounding basis on the amount outstanding and is added to your account periodically. Your debt will grow each day your debt remains unpaid. If you don't pay on time, we will automatically add a general interest charge (GIC) to what you owe. You'll avoid a penalty for failing to lodge on time and we'll know you're aware of those obligations. Make sure you lodge your activity statements and tax returns on time even if you can't pay by the due date. We may take stronger action if you are unwilling to work with us to address your debt or repeatedly default on agreed payment plans. use any future refunds or credits to repay the amounts you owe.contact you soon after the due date by one of the following methods.If you don't pay your debts on time, we will: We have tools and services available to support you. We’re committed to listening to your situation and helping you get back on track. When a tax debt isn’t paid by the due date, engage with us early so we can help you deal with your debt while it’s still manageable. We know that taxpayers, in particular small business operators, sometimes have cash flow issues that mean they can’t pay their whole tax bill on time. Here are your options if you can't pay on time and what happens if you don’t pay your debt.
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