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13 Mar 13 Payment of refunds of overpaid GST - administrative treatment

In the 2009-10 Budget, the Government announced its intention to amend the law relating to refund claims for overpaid GST.

These changes are based on recommendation 45 from the Board of Taxation review of the legal framework for the administration of the GST.

On 17 August 2012, the Government announced that these changes are intended to apply for tax periods commencing on or after the date of the announcement (17 August 2012).

The proposed amendments will clarify the circumstances in which the restriction on GST refunds applies to overpayments of GST and allows taxpayers to self-assess their entitlement to a GST refund.

The amendments aim to protect the integrity of the tax system by ensuring that taxpayers who have passed on an amount of GST to their customers are not able to obtain a windfall gain, irrespective of how that overpayment occurs.

These are proposed changes only, and are not yet law.

The ATO has now published the administrative treatment that it will apply pending the enactment of the changes.


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