Instalment options

If you can prove that paying the full amount at the required time will cause you severe financial hardship, we may allow payment in instalments.

Obligations

If your application for a payment by instalment is granted, you must comply with the following terms and conditions.

Terms and conditions

• You must pay all instalments on time.
• Unpaid tax interest will continue to accrue on the unpaid amount until the debt is repaid in full.
• You must agree to meet all other tax obligations in future.
• You must pay all instalment payments by direct debit from your bank account. You are required to maintain sufficient funds in your account to guarantee payment of each instalment on the due date.
• If the payment due date has passed, you must pay at least 20% of the debt when you submit an application for payment by instalment (in certain circumstances, the Commissioner may forego this requirement). The ‘payment due date’ is the original due date for payment of the liability.
• Your application (for payment by instalment) form must be complete and have relevant documents attached—if not, your application will be rejected and recovery action will continue.
• You must notify us of any significant change in business/financial affairs (good or bad) that affects your ability to pay. If your position changes and you are able to repay the debt, you must pay off the debt immediately.
• The Commissioner will conduct regular reviews of the arrangement and may decide to increase the instalment amounts.
• You must be financially solvent. If during the arrangement period you become insolvent, you must notify us immediately. The Commissioner may ask for evidence of this at any time.
• If a statutory charge is registered on your property, you must pay all associated costs.
• The Commissioner may, at any time, end the arrangement (by notifying you in writing).
• If the Commissioner ends the arrangement, any outstanding amount must be paid immediately.
• The Commissioner’s decision about extending the time for paying a tax law liability or ending a payment arrangement is final. 

See section 34 of the Taxation Administration Act 2001 for more information.

Completing an application

Application forms are available for individuals (PDF 235 K) and companies or trustees (PDF 205 K).

Print or type all responses in boxed spaces and tick appropriate boxes. If there is insufficient space, attach additional forms or pages. If there are 2 or more debtors, each debtor must complete a separate application form.

You must include with your completed application:

• photocopies of your last 4 payslips or payment advice slips
• copies of bank statements/accounts over the last 3 months
• Direct debit request form (PDF 200 K).

Also, if you are self employed, you must provide:

• copies of balance sheets and profit/loss statements for the last 3 years
• a statement of the assets and liabilities of the trust/company/business
• a cash flow statement for the previous 6 months
• cash flow projections for the next 6 months.

Mail your completed forms and all relevant documents to GPO Box 139 Brisbane Qld 4001 or fax to Debt Management on (07) 3227 7209.