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Changes to ATO Pre-Payments

2016-01-13_15-27-23To make it easier for you to manage your tax, they can now pre-pay your activity statement before the due date. You can make a pre-payment at a time that suits you, using any payment method.

In the past, the ATO would automatically refund credits from early payment. Now, a pre-payment made towards a tax liability before it’s due will remain on your account unless a refund request is made through the Tax or BAS Agent Portal. The ATO may use a pre-payment to offset debts.

Some tax liabilities qualify for early payment interest if you make a payment 14 days before the due date. You can estimate the interest you  would receive using the credit for interest on early payments calculator.

 

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