How to get an ATO account statement, and what to do about tax debt

Why would a lender ask for my ATO account statement?

Because an unpaid tax balance is a debt, and debts are part of any lending decision. If you are self-employed or run a business, an ATO balance can also hint at cash-flow pressure. Lenders therefore like to see the real number from the ATO, not a guess. It also works in your favour. A clear, documented position, with a payment plan in place and instalments being met, is easier for a lender to assess than an unknown.

Having a tax debt does not automatically end a loan application. How it is handled makes a big difference.

How do I see my ATO account online?

Individuals and sole traders

The ATO says you use ATO online services through a linked myGov account. If you have not linked yet, the ATO page “ATO online services and myGov” explains how to create a myGov account and link it. Once you are in, look for your tax account and payments sections. If you cannot sign in, the ATO has a help page for that, and you can call 13 28 65.

Businesses

The ATO says business users log in to Online services for business and open the Accounts and payments menu. The accounts summary lists each account’s payment reference number, overdue amount and balance. Selecting an account shows its transactions, which can be filtered by date and downloaded as a CSV or HTML file. Activity statement accounts show a tax type summary, and payment plan details show the instalment schedule, due dates and status.

Through your agent

If a registered tax or BAS agent looks after your tax, they can access your account through the ATO’s agent services and send you the details.

What is a statement of account?

The ATO says it may send a statement of account along with your notice of assessment when your account balance differs from your assessment result. That can happen when:

• A penalty or general interest charge applies.
• Interest is credited to you.
• Your credits or refunds are used to offset other debts.
• Your account has a non-zero opening balance.
• You lodged returns for several years on the same day.

In those cases the payment advice and due date appear on the statement of account rather than the notice. Our guide on how to get your notice of assessment covers where notices are delivered.

For a lender, a printout or download of your account transactions, showing the current balance and any payment plan, usually does the job. Check what your lender wants.

What if I owe the ATO money?

You are not alone, and there are structured options. The ATO’s payment plan page says:

Who	Where to set up a plan
Individuals and sole traders	ATO online services (through myGov), then Tax, Payments, Payment plans
Businesses	Online services for business, Accounts and payments, Payment plans
Via an agent	Registered tax or BAS agents can set a plan up for you

Other points from the ATO:

• Debts of $200,000 or less may be arranged online or through the self-help phone line.
• Debts above that, and plans that run longer than two years, renegotiations, hardship, insolvency, bankruptcy or disputes, need a phone call to the ATO.
• Income tax and activity statement debts need separate plans.
• You need your TFN or ABN and the exact amount owing for each debt.
• Online services and the self-help line each allow one plan at a time.
• The ATO page says that after 30 June 2027 credit cards can no longer be used to pay the ATO, so plans tied to a card need another payment method before then.

The sooner you contact the ATO, the more options are usually available. Ignored debts tend to grow and can lead to firmer action.

How does an ATO debt affect a loan application?

Practically, lenders look at:

• The amount owing relative to your income or business turnover.
• Whether it is on a payment plan and whether instalments are being met.
• How it arose. A one-off shortfall tells a different story from a long run of unlodged returns.
• Whether your lodgements are up to date.
• What the loan is for. Paying out the debt with a new loan is a different proposition from borrowing for something else on top of it.

Policies vary widely. Some lenders decline anyone with an overdue tax debt, others consider it with a payment plan, and some specialise in it. Our guide on ATO debt and your property explains the property side, and our pages on home loans when you owe the ATO and business loans to clear ATO debt show how we approach it.

Can a loan pay off the ATO debt?

Sometimes. If you have equity in a property or other security, finance may be arranged to clear the balance and replace it with a structured repayment. That may be a refinance, a second mortgage for tax debt or an ATO debt refinance. Whether it makes sense depends on the cost of the new loan, your repayment ability, the exit plan and the lender’s policy. We give general information, not personal advice, and we are happy to talk through your situation.

Who suits this guide?

• Sole traders and small business owners with a tax balance.
• Self-employed borrowers applying for a home loan.
• People who have received a notice and are unsure of the figure.
• Borrowers whose lender has asked for “your ATO statement”.
• Anyone wanting to get ahead of a tax debt before it grows.

What documents should I gather?

• Your ATO account balance and transaction list.
• Any payment plan agreement and proof of recent instalments.
• Recent notices of assessment.
• BAS or activity statements. See how to get your BAS and financial statements.
• An accountant’s letter if a lender asks for one. See how to get an accountant’s letter.

Mistakes to avoid

• Applying for a loan without knowing the real figure.
• Waiting until the ATO acts before you speak to them.
• Setting up a plan you cannot afford.
• Hiding the debt from your broker or lender.
• Overlooking unlodged returns or BAS, which can hold up an application.

An illustrative example

A sole trader has a tax balance, a payment plan and a property with equity. He downloads his ATO account details, collects proof of three on-time instalments and explains how the debt arose. A broker finds a lender who will consider the file, and the plan helps show the debt is being managed. This is illustrative only, with no real person, and no outcome can be promised.

How does Ownright help?

We have worked with plenty of borrowers who have tax debts, and we know which lenders will talk. Trevor Scott leads our team in Knoxfield, Victoria, and we arrange finance Australia-wide. We will look at your account, the security you have and what you are trying to achieve, then tell you honestly what looks possible.

What are the main ways the ATO helps if you cannot pay?

The ATO’s payment plan page covers the most common route, but it is not the only one. The ATO also has support information for people and businesses experiencing difficulty, and it encourages contact before a debt grows. When you phone, the ATO page says to have identity details, the reason you cannot pay by the due date, bank details, and your income, expenses and assets ready. Moneysmart’s budget planner is suggested as preparation.

A plan that you can sustain is better than a plan that looks generous but fails. If your circumstances change, contact the ATO to renegotiate rather than letting instalments lapse. Lenders reviewing your file will want to see that instalments have been met, so a run of on-time payments becomes a document in its own right.

How do I show a lender the payment plan is working?

Gather the plan agreement and the evidence of payments made, such as the instalment schedule in ATO online services, bank statements showing the payments and any ATO confirmation letters. The ATO says the instalment status in online services can take up to 14 days to update, so allow for that if a lender wants a current view. A tidy folder showing the plan and its history tells a lender you are managing the debt.

If your tax returns or BAS have not been lodged, lodging them is usually the first priority, since a lender cannot assess unlodged income and the ATO can raise assessments of its own. Our guide on how to get your BAS and financial statements can help you line up current figures.

Can a property help resolve a tax debt?

For borrowers with equity, a property can be the way out of an ongoing ATO balance. Options include refinancing the home loan with a higher limit to clear the debt, a second mortgage that leaves the first loan alone, or a private loan if banks decline. Each carries trade-offs: cost, term, exit plan and the risk of securing a debt against your home. These are exactly the points we work through with clients, always as general information, so you can decide with eyes open. Our home loans when you owe the ATO page describes the home loan side in more detail.

Sounds like you are dealing with a tax debt and need finance?

Sounds like you’re looking for finance that takes an ATO balance in its stride. We’re the lending experts in ATO debt and tax debt solutions, so click the button below and see if you qualify.