Watchdog Launches Review Into ATO’s Handling of Tax Debt Interest

Businesses urged to participate in tax debt interest review

The Tax Ombudsman is inviting taxpayers to let their voices be heard as the agency is currently reviewing the policies of the Australian Taxation Office (ATO) regarding the management of interest in unpaid tax debt. In particular, the Tax Ombudsman is looking at where taxpayers seek to have their General Interest Charge (GIC) reduced or removed (remitted) from their account when seeking to pay their tax debts. The GIC is interest that accrues on…

Tax watchdog opens review on ATO's "potluck" GIC remission process

The Tax Ombudsman has launched its formal review of the ATO's GIC remission strategy, to find if tax office practices are clear, reasonable, and consistent. The post Tax watchdog opens review on ATO’s “potluck” GIC remission process appeared first on SmartCompany.

Tax Ombudsman investigating how the ATO chases debts

Tax Ombudsman Ruth Owen has launched a review into the ATO’s debt recovery methods. Photo: Tax Ombudsman website The Australian Taxation Office is under investigation over how it punitively chases unpaid tax debt using aggressive, non-transparent and inconsistent methods. Tax Ombudsman Ruth Owen has launched a review of how the ATO manages the interest on unpaid tax debt and is seeking community input into the inquiry. She is especially interest…

Watchdog launches review into ATO’s handling of tax debt interest

The Tax Ombudsman has opened a review into how the Australian Taxation Office (ATO) manages interest charges on unpaid tax debts, inviting submissions from taxpayers and professionals across the country. The review will focus on the General Interest Charge (GIC), which accrues on outstanding tax debts. While the law allows the ATO to remit the charge in certain cases, concerns have grown about how consistently and transparently this discretion i…