Thursday, February 16, 2012
Press Release - Government to Amend Law to Allow ATO to Hold Refunds Pending Verification Checks [15/02/2012]
Assistant Treasurer Mark Arbib today announced that following consultation the Government will introduce legislation into Parliament to allow the Commissioner of Taxation to hold refunds for verification prior to payment. Senator Arbib said the legislation followed a decision of the Full Federal Court on 11 November 2011, in Commissioner of Taxation v Multiflex Pty Ltd [2011] FCAFC 142, that the Commissioner had no legislative basis for holding on to a refund while verifying that the amount claimed is correct, even in the case of potential fraud. The ATO will also continue to bring before the courts those who commit fraud.
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