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

Discussion in 'Debt and Bankruptcy Law Forum' started by mah, 26 August 2016.

  1. mah

    mah Member

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    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?
     
  2. Victoria S

    Victoria S Well-Known Member

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    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.
     
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