Last year I got a decent sized tax bill (HECS and child support comes off negative gearing too, didn't know that, not negatively gearing anything again) and I haven't made much of a dent into it so it will still be there after the pay-by date, gathering interest. However, this year I am older and wiser and have declined fortnightly FTA/FTB in favour of taking one payment at the end of the financial year. My income is much much lower this year unfortunately so this is not doing me any favours with cashflow Some guy I was working for didn't pay me for a contract and it has thrown everything out but that is another story (I am just sending him a new statement with interest each month atm) So, at the end of the 2015/2016 I'll have a lower income, no negative gearing, smaller tax bill in 2015/16 and a larger amount of FTA/FTB owed to me than in 2014/15. Does anyone know if this come off the previous year's tax debt automagically or will it only come off the current year's tax debt and (maybe) give me a refund to then throw on the previous year's tax debt? Mostly the same result either way but the previous year's debt will be getting interest by then and the current year's will be interest free until April 2017.