![]() Remission of general interest charge (GIC) Online services for agents secure mail topics and subjects ![]() Select the topic and subject of your message from the list below. Tax professionals can request a reduction or cancellation of an interest charge for their clients in Online services for agents using Practice mail. Online services for business secure mail topics and subjects Request a reduction or cancellation of an interest charge in Online services for business using Secure mail. details of interest ($) amounts and dates interest was imposed if known. ![]() for GIC only, explain in detail the circumstances, including relevant dates, that led to the delay in payment and any steps you've taken to reduce the delay.an explanation of why you think it is fair and reasonable for us to reduce or cancel your interest charges.the reference number from any letter or notice advising you of our decision.your tax file number (TFN) or Australian business number (ABN).In very limited circumstances you can phone us to request a remission of SIC. through Online services for business or Online services for agents (you must be registered).In most circumstances, reduction or cancellation of GIC and SIC must be made in writing. You can request a reduction or cancellation of an interest charge. we delay processing your amendment request.either of us experiences a delay in obtaining information from a third party during the examination, which is not otherwise available to you.we cause periods of unreasonable delay during an examination.we delay the start of an examination into your tax affairs or the expected time to complete an examination is late due to our actions.We also initiate remission if it is clearly appropriate to do so, for example if: We may remit all, some, or none of the interest charge. We use the information you provide as well as other information available to us to consider your request for remission of the SIC. How we assess a request for SIC remission If you were responsible, we look at whether this had an unforeseen result, for example, where a soundly-based decision had unforeseen consequences. This could be due to such things as natural disasters, industrial action, the unforeseen collapse of a major debtor or the sudden ill health of key staff. if there are other special circumstances, such as where the payment of the full amount of GIC would result in serious financial hardship for you.įor example, we look at whether you were responsible for the delay in payment or it was outside your control.what steps you took to relieve the effects of those circumstances.whether there were any extenuating circumstances that caused the delay in payment.In deciding whether to reduce or cancel the GIC, we consider factors including: How we assess a request for GIC remission Once the due date has passed, the higher GIC applies to any unpaid tax and SIC. The due date for payment of the additional tax and SIC is 21 days after the day we give you notice of the additional tax. The shortfall is the difference between the amount of tax originally assessed (or refunds you claimed) and the amount of tax you were eventually assessed for (or credits you were entitled to). When we tell you of a shortfall in your tax we also include an interest charge on the shortfall amount. ![]() This is because taxpayers are usually unaware of a shortfall amount until we tell them.
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