Can the ATO take money from your bank account?January 11, 2024
Will i recieve tax refunds if i owe tax to the ATO?February 9, 2024
Paying tax by installments could be seen as the standard quarterly BAS obligation. Otherwise, if you are not registered for BAS you would not need to lodge quarly installment. Therefore you would only complete your tax at the end of the financial year. As a result, you can still calculate and pay your tax monthly or quarterly as you decide. Then, when you complete your end of financial year tax return you would either have a smaller amount owed, or recieve money back if you have over paid.