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What To Do If You Need Help Paying Tax Debt

Do you have tax debt, and not quite sure what to do about it? Your natural reaction might be to immediately get in touch with your usual accountant and ask them for tax debt help. The problem is that rather than give you the best tax debt help advice, many accountants will wash their hands of anything that is messy or complex. And then, rather than get help paying tax debt, you’re left assuming that you’re going to be in trouble with the ATO.


It never hurts to get a second opinion on your taxation matters, and indeed most of our clients came to us for that very reason, and then end up staying with us, because we don’t leave opportunities on the table. 

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Where you can get help paying tax debt

The ATO have a range of options that it can offer those that need help paying tax debt.

Provided you negotiate in good faith and then stick to agreed plan with the ATO, that is. If you're constantly in breach of the agreement or trying to re-negotiate, the ATO will be less open



This is why it’s important to negotiate something that is manageable upfront, and will allow your business to continue to operate as normal, preserving cash flows, allowing you to pay employees, and undertake the activities that you need to run a profitable business.

One of the most valuable services we provide at EPAS is our ability to negotiate with the ATO on your behalf to secure tax debt help. We maintain a good relationship with the ATO and understand their priorities, as well as how to best represent our clients to them.

How to secure help paying tax debt

First of all, don’t let pride get in the way of you seeking tax debt help. Businesses regularly find themselves with tax debt – perhaps you had a slower than expected quarter, or perhaps you had some unexpected critical expenses come up. Regardless, it’s no sign of failure if you need to seek tax debt help and, indeed, often the difference between a business that returns to thrive and one that is wound up is that the owner was willing to seek help paying tax debt.

Here are the steps you can take to reduce your business debt:

1)     Take action immediately: You don’t have long once the ATO notices that you’ve not paid your tax debt. The sooner you consult with us at EPAS for tax debt help, the better.


2)     Assess your current situation: The first thing that we will do in collaboration with you is look at the underlying situation: what has caused the tax debt, what start is the business in, and what pathways there might be to resolution.


3)     Start chasing unpaid invoices: There’s always the temptation to give customers leeway to either pay late or forget an invoice. After all, if they’ve been a good customer in the past, the perception is there that by chasing the invoice they’ll stop giving you their business. But getting those overdue invoices paid is critical to the cashflow that you’ll need to manage your debt.


4)     Organise an ATO payment plan rather than a consolidated debt loan. Some banks will offer debt loans, but often the interest rates will be higher than what you would pay with the ATO payment plan. Remember, the ATO wants your business to stay open, pay its taxation obligations, and remain in a healthy financial position. It is open and available to negotiate – if you’re willing to do so in good faith.

Tax debt help is available and for help paying tax debt, contact EPAS today. Remember that the sooner you start, the more in control of your destiny you will be. 


Get Started

Drop us a line and we’ll get back to you!

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