Australia as compared to other developed rich countries maintains a low tax burden at 27.8% of GDP in 2018. Are you looking for taxation assignment help, or want help with tax payment? This season rest assured of tax payment with Xe in Australia. Xe is the world’s most searched foreign exchange website with more than 18 million visitors per month and 7 million downloads on its app version. Tool Xe offers are Xe currency convertor, forex news and analysis. Xe offers smooth international money transfers at the best exchange rate. Xe uses over a hundred foreign currency data sources to land on international exchange rates, earning the title of the world’s most trusted currency authority. Recently Xe joined hands with the Australian taxation office and became ATO’s one of the two payment modes to pay Australian tax. To make the process simple and smooth for taxpayers they improved their services.
Make a tax payment to the ATO with the Xe app
Firstly, if you don't have an account at Xe, go to their website and register for it. Registration is free. Having an account makes it easy for you to pay taxes. Follow the step-by-step guide for tax payment from the Xe app.
1. Open the app to initiate the transfer to Australia (AUD)
As the recipient currency choose the Australian dollar (AUD) and get your transfer quote. This will give you send rate for your transfer and acquaint you with a certain amount in AUD that you need to pay to ATO. This is the rate at which you will convert your currency to pay tax. As the currency rates keep changing, the rate you get will be for the time you confirm the payment and will send the whole amount to ATO.
2. Click on ‘services’ to enter your recipient details and select the Australian taxation office
For any transfer made to Australia, the recipient section will auto-fill ATO’s name. This will omit the need for you to fill the recipient part because they have ATO’s information with them by default.
3. Provide your Payment Reference Number
Enter your PRN number in the box provided. If you don't have a payment reference number click on the option ‘How do I get my PRN?’ given below the box, and from there follow the steps to get it.
4. Fill in your payment details and click confirm
Enter payment details and confirm your money transfer. Before proceeding with ‘confirm and send money’, check confirmation screen and details carefully given on screen, including:
Currency amount you are providing for conversion.
The amount in AUD, which you will be sending to ATO.
The rate at which the exchange of currency happened i.e. send rate.
Check for fees if you are paying any.
Finally, the date at which the transaction is taking place.
After this you will be provided with the estimated completion date. Try to take a margin of 4 days before your due date to reach the payment to ATO and reflect in your account. Xe is not responsible for any late payment penalty or interest levied on that.
Advantages of choosing Xe over other exchange websites for your international tax payments.
Easy to use: Tax paying itself a difficult process and that too internationally. It has become easy now with Xe app as it already has all the information regarding Australian taxation office. Rest assured as money is going at the right place and on time with this app.
You can be assured that full amount is transferred to ATO: There are no intermediary sources involved in this process of tax payment to ATO. The funds are directly transferred to ATO, which eliminates the extra fees or charges. The whole amount you initiated and see on confirmation screen will be proffered in full to ATO. No Cuts.
Xe is reliable: The company is in the business of currency exchange for over 30 years. So, you can be certain of the fact that the money initiated will reach its recipients.
Offers best exchange rates: Xe offers best exchange rates over other currency exchange websites in the world and has scored 4.5 rating on Trustpilot.