Perks- Focussed, Client-driven Accounting & Financial Services Firm in South Australia & Northern Territory

Budget 2008-09: Refunds for Indirect Taxes

18.12.08

The Tax Office has also released a Draft Miscellaneous Taxation Ruling in which it sets out the requirements for a notification to be valid when advising the Commissioner of an entitlement to a refund for indirect taxes (e.g. GST and fuel tax).

The Draft states that a notification must:

be in writing;
bring the entitlement to the Commissioner’s attention;
identify the entitlement;
identify the tax period; and
assert the entitlement.

Generally, a four year time limit for entitlements to refunds for indirect taxes applies.

Tax Office Eyes Overdue Tax Lodgments
The Tax Office is eyeing companies, trusts, partnerships and individual taxpayers which have overdue income tax returns.

Tax Scams On Tax Office Radar
The Tax Office has recently highlighted the emergence of new tax schemes, warning taxpayers to be vigilant.

Education Tax Refund - Claims Check
The Tax Office will be data-matching with Centrelink to identify recipients who may be incorrectly claiming the education tax refund.

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