"Today, the trust account received a credit of $0.54.
Turns out the ATO have "rewarded" the taxpayer for paying their 2010 payable assessment before 21st March 2011. The narration on the ATO Portal account says "Interest for early payment of Income Tax".
How about rewarding the tax agent who has to process the additional paperwork generated from an unsolicited refund?
I appreciate the comments about being upbeat of our profession [see Member 358's comments in last week's TAXVINE, 2010 TAXVINE No 49 (3 December)], but Member Feedback is a forum where the ATO can take notice of industry problems directly from the agents. Whilst the forum is a litany of complaints it is merely reflective of the tremendous problems the ATO system implementation has caused, such as the one above. Hopefully the ATO have catalogued these problems and are working on a "fix".
It is also interesting that a Class Action is likely to be launched against NAB. And that was only a one-off problem. Not the monumental errors faced by tax agents and with devastating impact on clients. Maybe the ATO should take a bit more notice of what happens in commerce when you get your systems implementation wrong and provide agents with a little more latitude. The GFC may be over but now we have the ATO-FU to deal with.
As long as someone is listening and trying to get things fixed, that is all we truly care about."