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Delayed refund of a running balance account surplus

Guidance notes on delayed refunds.

Last updated 26 June 2007

From 1 July 2000, we will pay delayed refund interest if we do not pay the following types of refunds within 14 days:

  • a surplus on a running balance account (RBA) reflecting 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.)
  • a surplus on an RBA arising from the remission of a penalty that relates to a BAS amount, that you requested to be remitted, or
  • a surplus on an RBA that you requested to be refunded that reflects a voluntary payment made for an anticipated tax debt under a BAS provision.

If you have not given us 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 tax debts you have with us.

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 debt you owe.