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  • Delayed refund of an RBA surplus



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    From 1 July 2000, the Tax Office will pay delayed refund interest on a surplus on an RBA if:

    • we do not refund, within 14 days of the surplus arising, a surplus created by the allocation of a business activity statement (BAS) amount to the RBA (Note: A BAS amount is any credit or debt that arises directly under the BAS provisions, which include goods and services tax (GST), wine equalisation tax, luxury car tax, PAYG withholdings and instalments, and instalments of fringe benefits tax.)
    • we do not refund, within 14 days after the day you requested the remission, the remission of a penalty on a BAS amount
    • we do not refund, within 14 days after the day you requested the refund, a voluntary payment made for an anticipated tax debt under a BAS provision.

    If you have not given the Tax Office all outstanding activity statements or all the information necessary for your activity statements to be processed, or if, when required, you have not nominated an account at a financial institution into which the refund should be paid, delayed refund interest will not start accruing until 14 days after the day that you give us the relevant statements or information.

    Who calculates the interest on your delayed refund?

    We will calculate your interest. Interest will usually be refunded to you with your delayed refund but may be set off or applied against any outstanding debts you have with the Tax Office.

    Note: Delayed refund interest is not payable if, at the time the refund or surplus arises, the refund or credit is set off against another tax liability you owe.

    Last modified: 02 Mar 2020QC 18002