Payment plan

[#1]

I have been paying off an activity statement bill with a payment plan which is automatically taken out fortnightly via bpay with the PRN assigned to the payment plan. I didn’t set an end date and the payments have continued to come out after the completion of the bill being paid out. Will that money be credited to my account and returned at tax time? Or will it bounce back eventually? Does the PRN for a payment plan become void once the plan is paid out?
Thank you

[#2 · Accepted solution]

Hi @Chelle1

I’m glad you were able to address the automatic payments with your financial institution.

A refund to you will depend on the following circumstances:

•    Any credit will be offset against a debt you may with us first.
•    Do you have any future activity statements due to be lodged and you are expecting a liability? If so, this credit will offset against this activity first and you can either pay the difference of the activity in full by the due date or consider a new payment plan.

If you have no ongoing obligations with us you will need to phone us on the business line to request a refund.

For more information have a look at the BAS refund page on our website.

The Payment Reference Number (PRN) quoted can be used for future payments towards activity statements.

Hope this helps.

Thanks MayW

[#3]

@MayW thank you for your response. So assuming I have no other debts, the money will just continue to accrue in my name until I stop the payments? I guess I’m just making sure the PRN stays valid since the payment plan is paid out and the payments will continue be credited to my account.
Thanks again.