Hi, we are still catching up with our BAS payments from October and worried about the next payment in February. It is possible to get finance to help in case we need it?

Hi Sean

Depending on your history with the tax office, the ATO may offer you a payment plan to help you catch up with your tax debts. The condition being you will stick to the payment plan and meet your future tax obligations as they fall due.

Give them a call and you may be surprised that ATO is more helpful than people may make them out to be.

Hope this helps.

Hi Sean,
I agree with Suresh, a payment plan may be the best option as unsecured loans related to tax debt will charge you 2% per month which works out to around 30% per annum.

If you would like to discuss options for finance which may include a sale and leaseback of business assets, invoice financing or an overdraft facility please don’t hesitate to make contact.

Kind regards
Scott
www.mobilelender.com.au

I tell me clients that the ATO is your first choice short term lender who cannot say no!! (thats a bit cheeky, but the point is dont borrow money to pay a tax debt unless you have no choice)

they DO charge interest, and its not cheap......but if you have a decent reason they will often remit the interest.
also remember that for an individual, GIC charged by the ATO is deductible. Interest on a loan to pay your tax is not!!

your biggest challenge is to NEVER EVER EVER EVER lodge a BAS late!!!! The ATO will work with you if you have cashflow issues, but late lodgement = fines. and if you have a history of lodging late they probably wont want to talk to you about a payment plan.

https://www.ato.gov.au/General/Paying-the-ATO/Help-with-paying/

its all in here. anything under $100k can be done over the phone in most cases.