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Articles
Pension Payment Minimums for 2010/11
3 Tax Time Checklists - Company, Individual and Superannuation Fund
Overseas Investment in Australia – Confusion reigns.
Bank Fees Dropping
Personal Credit Ratings – Part 2
Develop a more complete understanding of your financial position by using the Calculators / Financial Tools on this site.
Henry Report - a note on the Report's recommendations
Income Tax Assessment Process Still Struggling
2010-11 Commonwealth Budget
End of Tax Payment Concessions
Australian Taxation Office (ATO)
Income Tax Assessment Process Still Struggling
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The Australian Taxation Office implemented a major overhaul of its computer system and assessment process, which began to effect agents and taxpayers in late December 2009.  Unfortunately, it has not gone well resulting in a great deal of criticism and creating many headaches for tax agents trying to understand the new paper warfare and time to chase up missing cheques, unpaid interest, etc., etc.

In summary:-

January 2010
Tax Office advises we might experience “temporary service delays”.

February 2010
News that there is a backlog of 300,000 returns yet to be processed

March 2010
New four page Notice of Assessment, rather than a simpler one page version.

A significant number of refund cheques just disappeared (down a black hole??)

When some of these refund cheques are mailed out, they are dated two to three weeks earlier.  No explanation or acceptance of fault!

April 2010
Assessments are sent out with incorrect dates.

Assessments are sent out without refund cheques.

Partial Assessments are sent out.

Refund Assessments’ are sent out with General Interest Charge (GIC) charged and (later on in the same Assessments) GIC remitted.

May 2010
Backlog reduced and improvements starting.



16th-May-2010

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