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Bdoc(Newbie)Newbie
23 Nov 2024

Am I correct in my findings that you are able to get an interest-free payment plan for your tax obligations if you are a sole trader or business owner but not if you’re an individual?


I sold property in both Australia (it was investment property and became main home, and in New Zealand, piece of land subject to the bright line ) and have received a hefty tax bill, I am paying this via payment plan.


The money made on both of these properties was reinvested into my main home.


I am a single parent on an average wage and am paying a very large some monthly and was hoping at the end of the payment plan I would be able to claim interest back, or have an interest free plan but it seems this is not available for me.

3,175 views
1 replies
3,175 views
1 replies

Most helpful response

Most helpful replyATO Certified Response

BrookeATO(Community Support)Community Support
ATO Certified Response25 Nov 2024

Hi @Bdoc,


Yes, you're right.


This is because these payment plans are designed to address outstanding Activity Statement debt in a short amount of time. There are strict criteria to be eligible for an interest-free payment plan and is dependent on your circumstances.


It sounds like your debt is CGT related, which is outside the eligibility criteria. But, what you can do is apply for an interest remission. We can't guarantee the result of your request on here as we don't know your specific circumstances. But you can make your request through a tax agent, or by calling our Lodge and Pay team.

All replies

Most helpful replyATO Certified Response

BrookeATO(Community Support)Community Support
ATO Certified Response25 Nov 2024

Hi @Bdoc,


Yes, you're right.


This is because these payment plans are designed to address outstanding Activity Statement debt in a short amount of time. There are strict criteria to be eligible for an interest-free payment plan and is dependent on your circumstances.


It sounds like your debt is CGT related, which is outside the eligibility criteria. But, what you can do is apply for an interest remission. We can't guarantee the result of your request on here as we don't know your specific circumstances. But you can make your request through a tax agent, or by calling our Lodge and Pay team.

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Interest Free for Individual Payment Plan? | ATO Community