NSW ATO Refused Proposed Tax Payment Plan - What to Do?

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mah

Active Member
13 May 2016
5
0
31
Hi,

I have a tax debt due to not lodging my tax return for years and ended up with $200, 000 tax debt for 10 years. 140, 000 tax and the rest of the interests and penalties. I proposed to the tax office to pay $ 30, 000 upfront and $3000 per month.

My income before tax $130, 000/year. I have to kids and a wife who is not working. The ATO refused my proposal and refused to remit penalties and interests.

Any help?
 

Victoria S

Well-Known Member
9 April 2014
518
59
2,289
As I understand it you can continue to negotiate with the ATO and try to persuade them to accept your payment plan and to remit the penalties. I believe you need at least 25% down payment though - perhaps $50,000 up front if that's possible.
 

settle

Well-Known Member
4 February 2017
65
6
224
Tax debts can be reduced and ATO can agree to a payment plan, the key is provide the right paperwork to support your payment proposal.
 

mah

Active Member
13 May 2016
5
0
31
Tax debts can be reduced and ATO can agree to a payment plan, the key is provide the right paperwork to support your payment proposal.
Tax debts can be reduced and ATO can agree to a payment plan, the key is provide the right paperwork to support your payment proposal.

Tax debts can be reduced and ATO can agree to a payment plan, the key is provide the right paperwork to support your payment proposal.
Thank you. How I can prepare the right paper work?

Any help?

Regards.
 

settle

Well-Known Member
4 February 2017
65
6
224
Tha

Thank you,how I can prepare the right paper work?any advise,regards.


Accountants can help you prepare the paperwork. But make sure your financials are up to date as they will need to be presented to ATO. Get access to your intergreated account to see how much interest and penalties there is on the system to get remitted. Write a strong letter to ato to review your case.
 

mah

Active Member
13 May 2016
5
0
31
Ok, how I contact you to help me? as my accountant didn't succeed with them I lodged all tax return up to 2015 and what you mean strong letter?

Thank you.
 

settle

Well-Known Member
4 February 2017
65
6
224
The letter has to include why the ato should agree with you, you need to provide a 'reasonable arguable position' for them to work on your side