- Australian Government extends mandatory notification period for BAS refund retention from 14 days to 30 days
- Australian Taxation Office given additional 16 days to decide on suspending processing of GST refund requests
- Changes will apply from the first financial year after Royal Assent
- ATO will have more time to review suspected fraudulent refunds before release
- Legitimate refunds retained for over 14 days will result in ATO paying interest to taxpayer
- ATO reviews refund requests for various reasons including large refunds claimed for the first time, inconsistent claiming patterns, and indications of fraud.
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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