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18 Jun 10 More on refunds and new labels

MEMBER 183 writes:

"My sympathy to Member 179 in trying to obtain money out of the ATO for a refund.

A salary client is owed $8,000 for his refund but the ATO will not disgorge it. Repeated phone calls finally obtained the advice that the taxpayer can apply for his refund under HARDSHIP conditions, BUT, it will take at least 14 days. We rang the number given to phone, but it was in Perth WA, and that Monday was a Public Holiday in Perth.

However, on to happier moments. We have just downloaded from the ATO the 'Tax Time 2010 product changes' document and the "Individual Tax Return for 2010", and so we are told that there are 27 new Labels in the Individual Tax Return.

A glance at page 5 shows the new INCOME TESTS, which must be completed if any of 13 items apply to you OR you completed any of the following items: 12, T1,T2,T3,M2,T7,T10,T12,T13 or P9 on the Return. This is to correctly calculate tax offset entitlement says the note!

The taxpayer then must correctly put an amount for IT1 reportable fringe benefits, IT2 reportable superannuation, IT3 tax free govt pensions, IT4 target foreign income, IT5 investment loss, IT6 rental property loss and finally IT7 child support you paid!!!"

These items, and along with all the other new changes, remember the number 27, will cause a lot of extra work for ATO and Centrelink statistics. I hope all the salary taxpayers will not hesitate in paying tax agents for the extra time involved. What do you think?"

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