Video transcript - Paying your tax
To see the video of this transcript visit Paying your tax
To make payments easy and convenient, there are a number of options for paying amounts you owe to the ATO. These include BPAY, credit card, direct credit and direct debit, at the post office or through mail. More information on these options is available at ato.gov.au/howtopay
Sometimes, however, it may not be possible to pay your tax on time because of financial or other difficulties. As a first step it’s always important to know how much you owe so you can manage your tax obligations.
Once I had difficulty paying my tax on time, but I contacted the ATO as soon as I could. They were actually really understanding of my situation and we were able to make an arrangement for me to pay by instalments, and I even had an option to defer payment to a later date.
Addressing problems early can prevent your debt from becoming more difficult to manage. In circumstances of serious hardship or natural disaster, the ATO will do their best to support you in accessing the relief options available.
There’s also a Business viability assessment tool that you can use to help you determine whether a business is viable. The assessment considers a range of information that’s linked to the financial performance and position of the business. This includes the business’s ability to pay its outstanding debts, while meeting its ongoing commitments to creditors.
The ATO want it to be as easy and cheap as possible for you to pay your tax, so they offer a range of free online and personal services to help businesses.
If you’re finding it difficult to manage your financial affairs, you might like to arrange one of the ATO's business assistance visits. You could also visit a financial adviser or accountant for advice. Alternatively, you can obtain free advice from one of the government-funded financial counsellors across Australia.
This video explains how to pay your tax and the options available to you if you are having difficulty paying, the options available to you.