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Overpayment of tax

Guidance notes on overpayment of tax.

Last updated 26 June 2007

Starting from the 1993-94 income year, we will pay interest on overpaid tax if:

  • we take more than 30 days after your tax return is lodged to issue a notice of assessment and that assessment entitles you to a refund of tax (if you lodge a tax return without all the required information, the 30-day period starts from the date we receive all the information)
  • you claim certain credits after an assessment has been made
  • your assessment is amended after you paid it and the amendment reduces your tax liability
  • you request a refund of all or part of a payment you made on account of income tax, certain income tax penalties, a HECS assessment debt, a compulsory HELP repayment amount, or a Student Financial Supplement Scheme assessment debt, or you request a remission of certain amounts of general interest charge that you have paid or a remission of the shortfall interest charge that you have paid, and the refund or remission occurs more than 30 days after the date you made the request.

Who calculates the interest on your overpayment?

We will calculate your interest. Interest will be paid to you with your overpayment, or set off or applied against any outstanding tax debts you may have with us.