I set up a payment plan with 0% interest last year. For the first few months no interest was charged. Then in January interest was charged for that month at almost 11%. When I called the ATO they said payment plans always have interest and I could call back when it is fully repaid and get a redemption of all interest paid. I checked my previous payment plan transaction history and found that the general interest was always remitted on the same day but it seems no longer the case. Note that I have always had payment plans with a small total balance owed that did not attract interest charges. Could anyone confirm the process advised to me on the phone is correct and interest charges will be reversed once the payment plan is paid off?
Hi @happyjane,
I can't comment on your previous arrangements without knowing more details. However, we apply general interest charges to outstanding debts to incentivise lodging and paying on time. You can view the current interest rates on our website. In some situations remissions of these charges are possible, but it depends on your circumstances. Once you've paid off the owed amount you're welcome to look at applying for a GIC remission. We'll assess your eligibility based on your specific situation. I'd recommend reading through our GIC remissions page for a bit more information.
All replies
Hi @happyjane,
I can't comment on your previous arrangements without knowing more details. However, we apply general interest charges to outstanding debts to incentivise lodging and paying on time. You can view the current interest rates on our website. In some situations remissions of these charges are possible, but it depends on your circumstances. Once you've paid off the owed amount you're welcome to look at applying for a GIC remission. We'll assess your eligibility based on your specific situation. I'd recommend reading through our GIC remissions page for a bit more information.
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