ATO taking tougher stance on granting payment plans and waiving penalties and interest.

Written By Samuel Hoare

Concerns have been raised by the ATO about tax professionals seeking payment plans for clients who may not genuinely need them.

ATO assistant commissioner Sylvia Gallagher emphasized that payment plans are for those truly in need, not as a means to hold onto funds unnecessarily. She stressed the importance of timely tax payments and warned against expecting lenient payment plans.

The ATO aims to scrutinise requests for payment plans and interest charge remissions more rigorously to ensure fairness. With debt levels reaching $52 billion, timely lodgments and payments are crucial. Utilize ATO services for assistance and keep records updated to avoid unnecessary debt accumulation. #ATO #TaxAssistance

#TimelyPayments

Samuel Hoare
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