Item 10: Lodgment obligations

10.1 PAYG instalments

When you exit your business, you may still have a PAYG instalment obligation through to the date of ceasing business. You may continue to receive instalment activity statements even after cancelling your Australian business number (ABN).

You can choose to vary your PAYG instalment rate or amount if you think the amount or rate we calculated on your instalment activity statement doesn't correctly reflect your circumstances due to you ceasing business.

To find out more about your PAYG instalments, visit PAYG instalment essentials.

10.2 Pay outstanding tax liabilities

When you close your business, you need to settle any outstanding amounts owed to the ATO, including any liabilities that arise from your final income tax return or activity statement lodgment.

You can make payments to the ATO in a number of ways – for more information, refer to How to pay.

We understand that occasionally it may not be possible to pay on time. To find out ways we can help you with your tax debt, refer to Managing your tax debt.

    Last modified: 12 Jul 2016QC 20300