04 Nov 11 ATO has no interest in paying interest
MEMBER 200 writes:
"I had a call from the busy bees at the ATO just before the starting gates opened on the Melbourne Cup. The call was to inform my client that they had no entitlement to ATO interest on an overpayment of excess superannuation contributions tax totalling between $40K and $45K that the client had initially paid back in early June 2011. It had subsequently been refunded in September 2011 after a successful objection. This is notwithstanding that the ATO charged GIC of over $1K for late payment (later refunded it must be said), lost the objection letter twice & were pursued every inch of the way on the progress of the objection and as to whether interest would be paid by the ATO. The wheels of administration turn ever slowly at the ATO it seems but nowhere near as fast as the wheels of hypocrisy when it comes to charging interest."