17 Aug 099 Changes to the automatic issuing of monthly RBA statements
The ATO has advised that changes have been made so that running balance account (RBA) statements automatically issue to clients only when:
- general interest charge (GIC) is imposed, and
- the closing balance for the statement period is greater than zero or in debit by one dollar or more.
Until recently, automatic RBA statements generally issued for integrated client accounts where GIC was imposed, regardless of the account balance.
For a copy of the ATO advice, go here