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Tax debt: Organising a payment plan
Help: I’ve got a tax debt. I need a Payment Plan
The ATO is starting to ramp up its tax debt recovery actions. So if you have a tax debt it is very important to be proactive and organise a payment plan if you are unable to pay the tax debt in one lump sum. Ignoring a tax debt can lead to bankruptcy or winding up.
Components of a tax debt
A tax debt generally comprises principal tax, penalties and interest.
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