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Re: Tax refund

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Newbie

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Hi all,

 

i was wondering, i have a payment plan set up to pay off a debt from the ATO last year, am i eligible to claim my tax back this year? 

could i claim it and pay off some or the rest of the debt from last year? im not sure how it works.

 

thanks

 

(sorry ive double post this)

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Anonymous

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Any tax credit / refund  that you may be eligible for in future financial years will automatically be used to reduce any outstanding tax debts you already have.  If there is any credit left over once its applied against your existing debt then you will recieve the remaining funds as a refund but if the credit is not enough to satisfy your existing debit then you will have to keep adhereing to your payment plan until any remaining debt is paid off.

 

When future year returns are processed you will be able to see on your taxation running balance of account how any future credit is applied to existing debits, just go to mygov. 

 

When you entered into the repayment agreement you would have spoken with an ATO officer and I suggest you give them a call to discuss your matter.  Their contact details will be the corresspondence you have relating to your ATO repayment agreement.

 

Also refer - Usingtaxrefundstopaydebt

 

Or you can contact the ATO on 13 28 61

 

 

 

2 REPLIES 2
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Megastar

Replies 0

Hi @Tonii94

 

Thanks for your question.

 

Check out the info on our website here.

 

Closer to the date, you may want to contact our debt team on 13 11 42 (8am to 6pm Mon to Fri AEST) for a more tailored response and clarity on your situation.

 

I hope this still helps.

 

Thanks, Michael.

Best answer

Anonymous

Replies 0

Any tax credit / refund  that you may be eligible for in future financial years will automatically be used to reduce any outstanding tax debts you already have.  If there is any credit left over once its applied against your existing debt then you will recieve the remaining funds as a refund but if the credit is not enough to satisfy your existing debit then you will have to keep adhereing to your payment plan until any remaining debt is paid off.

 

When future year returns are processed you will be able to see on your taxation running balance of account how any future credit is applied to existing debits, just go to mygov. 

 

When you entered into the repayment agreement you would have spoken with an ATO officer and I suggest you give them a call to discuss your matter.  Their contact details will be the corresspondence you have relating to your ATO repayment agreement.

 

Also refer - Usingtaxrefundstopaydebt

 

Or you can contact the ATO on 13 28 61

 

 

 

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