Updated 8 April 2020

It’s important that you continue to meet your compliance obligations – lodging returns and activity statements, single touch payroll, and superannuation guarantee payments – even if that tax payment has been deferred or waived.

It’s also important that amounts you declare to access various stimulus package initiatives match what you have declared to the ATO.

If you need assistance to defer tax payments, manage reporting, or manage tax debt, you or your adviser will need to contact the ATO.

Support from the ATO includes:

  • Ability to vary PAYG instalment amounts to zero for March 2020 quarter. Businesses that vary their PAYG instalment to zero can also claim a refund for any instalments made for the September 2019 and December 2019 quarters.
  • Up to 6 month deferral for the payment of business activity statements (including PAYG instalments), income tax assessments, fringe benefits tax assessments and excise duty
  • Businesses on a quarterly reporting cycle able to opt into monthly GST reporting for faster access to GST refunds where applicable
  • Remitting any interest and penalties, incurred on or after 23 January 2020, applied to tax liabilities
  • Low interest payment plans for tax debt

If you have an outstanding tax debt, tax relief might be available in serious and exceptional circumstances, such as where you cannot pay for food or accommodation.

The ATO will also be involved in administering certain aspects of the Government’s stimulus measures. Certain aspects of the rules are subject to the ATO’s discretion and you or your adviser can contact the ATO to discuss this further.