30 Aug 1010 Interest free payment arrangements and activity statement payment deferrals for small businesses extended
The ATO has reminded taxpayers that the measures introduced last year to assist small businesses to meet their tax payment obligations have been extended until 30 June 2011. The measures are:
- 12 month general interest charge (GIC) free payment arrangements
- deferred activity statement payment due dates.
They remain available to businesses with a turnover under $2 million. However, the ATO now expects businesses entering GIC free payment arrangements to pay by direct debit.
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