COVID-19 - ATO relief

mlionel20 on 31/03/2020 - 00:58

Hi there,

Among the ATO relief measures due to Covid-19 include "Deferring by up to six months the payment date of amounts due through the business activity statement (including PAYG instalments), income tax assessments, fringe benefits tax assessments and excise"

Is there any interest being charged for this deferral? I have my 2019 income tax assessment due (owing them) soon, and also with the upcoming BAS I usually owe them a PAYG installment as well. Considering deferring both but does anyone know if interest is payable for deferral?

Thanks

Financial COVID-19

Comments

  • Mechz on 31/03/2020 - 01:58
    +1

    Maybe ask them? Or your accountant?

  • salmon123 on 31/03/2020 - 02:12

    Considering deferring both but does anyone know if interest is payable for deferral?

    Pretty sure there's no interest payable on the deferrals. Lending money to businesses at the general interest charge rate of ~8% would be counterintuitive.

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