In order to assist taxpayers during this uncertain time, the ATO is introducing administrative relief measures and pledging flexibility.
For a full list of help and packages available, click here.
- Up to a four-month deferral of the payment date of amounts due through the business activity statement, including PAYG instalments, income tax assessments, fringe benefits tax assessments and excise.
- The ATO will allow quarterly GST reporting businesses to opt into monthly GST reporting in order to get quicker access to GST refunds they may be entitled to.
- Businesses will be allowed to vary pay-as-you-go (PAYG) instalment amounts to zero for the March 2020 quarter.
- Businesses that vary their PAYG instalment to zero will also be allowed to claim a refund for any instalments made for the September 2019 and December 2019 quarters.
- The ATO will also look to remit any interest and penalties, incurred on or after 23 January 2020, that have been applied to tax liabilities.
- Businesses can pay tax liabilities by allowing them to enter low interest payment plans.