18 Feb 11 On narrations in Income Tax Statements of Account
MEMBER 21 writes:
"Could the ATO please change narrations on Statements of Account so that the items of Debit and Credit are correctly identified.
Interest paid by the ATO ($1.08) on 15 February 2011 in respect of a Tax Return lodged on 16 December 2010 is NOT 'Interest on overpayment for Income Tax'.
Clients just keep coming back asking when did they overpay their tax - please identify it as 'Interest paid in relation to our delay in processing your return lodged on 16 December 2010'.