Application for refund

If you are the ultimate beneficiary of a fund payment, you are entitled to a refund of an amount of MIT withholding when your tax liability is less than the amount withheld by the MIT. This could arise because of a difference between the rate of withholding and the rate of your tax liability.

Next step:

Top-up payments

Top-up payments of MIT withholding tax are required where your tax liability on a MIT payment is more than the amount withheld by the MIT. If you're the final recipient of the payment (the ultimate beneficiary), you are responsible for making a top-up payment over the amount of tax withheld from the payment.

If your top-up payment is not paid by the due date, you must pay the general interest charge (GIC) on the unpaid amount for each day the amount remains unpaid. The Commissioner will issue you with a notice specifying the amount of GIC payable.

See also:

Information required for a top-up payment

All correspondence you provide to us in relation to a top-up payment should include the following information:

  • name and address of ultimate beneficiary
  • name of MIT(s)
  • date and amount of payments from MIT(s), and the amount withheld and paid to the ATO on each separate payment
  • year of income of MIT(s) to which each separate payment relates
  • name and address of the recipient at the time the payment was made to the recipient (if different to the ultimate beneficiary)
  • country of tax residence of the ultimate beneficiary when each payment was received by the ultimate beneficiary
  • reason for top-up payment
  • MIT withholding tax liability and top-up for each separate payment, how each was calculated, and the total top-up payment amount
  • details of how and when the payment was made (see Payment options for a top-up payment)

Payment options for a top-up payment

There are two payment options when making your top-up payment from overseas:

Direct credit through SWIFT

You can transfer your payment to us through SWIFT. Contact your overseas financial institution for advice on how to make your payment.

Details you need:


Reserve Bank of Australia
65 Martin Place
Sydney NSW 2000

Bank identifier



093 003

Account number

316 385

Account name

ATO direct credit account

Field 70*

HOR 72 DC 2

*Usually called 'details of payment'

Your payment must be sent in Australian dollars.

Bank handling and exchange fees are generally automatically deducted from the exchanged value of the payment, at both the overseas bank and their companion bank in Australia, before being forwarded to us. You should make allowance for these fees when arranging your payment.


Mail a bank draft to us in Australian currency.

You should also include a note that states:

  • your full name
  • your address and telephone number
  • HOR 72 dissection code 2.

Mail your payment and note to:

Australian Taxation Office
Locked Bag 1936

    Last modified: 12 May 2016QC 23804