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03 Jun 11 On incorrect income tax assessments

MEMBER 85 writes:

“We received a Notice of Assessment for an estate for the year ended June 2010 with a taxable income of $7,468.00 and the client was entitled to a refund of $472.00. The Notice of Assessment showed that there was PAYG Withholding Tax credited of $7,468.00, making a total refund $7,940.40.

It was an Electronic Lodgment and one wonders how a mistake of this nature could occur.

Needless to say we returned the cheque and the Notice Of Assessment to the ATO for the issue of an Amended Assessment.”