We pay the product stewardship for oil program (PSO) benefit into your nominated bank account.
Update your bank account details through Online services for businessExternal Link:
- select Lodgments, then Reports and forms
- select Product stewardship for oil
- then View or update your financial institution details
We send you a claim assessment when your claim is processed. It tells you the benefit amount you are entitled to, even if it is nil. It also shows any adjustments.
If you disagree with the claim assessment, contact us to discuss. If you are still not satisfied, you can lodge an objection.
Your benefit is assessable income. You must include it in your tax return.
It is not subject to GST or pay as you go (PAYG) instalment income.
You don't have to include it in your business activity statement (BAS), but you can include it at label T1 if you want to.
If we overpay your benefit, you must repay it. If you do not repay it in time, you will be charged interest on the unpaid amount.
We cannot offset PSO benefits against other tax debts without your consent. If you would like to do this, phone us.We pay the product stewardship for oil program (PSO) benefit into your nominated bank account.