We’ve stopped issuing automated statement of accounts (SOAs) when the only transaction on an account is a general interest charge (GIC).
This means there’ll be less ATO correspondence for you or your clients to receive and process, but you’ll still have access to up-to-date account information when it comes to interest accruing on debts.
- You can view your clients’ account balances and recent transactions in Online services for agents.
- Your clients can view their account balance and recent transactions in ATO online services.
- Our regular debt correspondence with taxpayers will continue to advise that GIC may accrue until the debt is paid in full, and the amount owing will include any GIC incurred up to that point.
- In certain circumstances, we may send taxpayers reminders by SMS, myGov message or email that GIC is accruing.
- You or your client can contact us to request a SOA at any time.
We’ll continue to issue SOAs for other events, such as when interest accrues on early payments, when credits or refunds are used to offset other debts, and in some cases, when a Notice of Assessment issues.