CofT v Travelex Limited – in a test case the FFC held that taxpayer was entitled to interest on the refund of overpaid GST – back to 2009 rather than 2012 under the detail in the RBA provisions

On 14 February 2020, the Full Federal Court (Kenny, Derrington and Steward JJ) dismissed the Commissioner’s appeal against a 2018 decision concerning the payment of interest on a RBA surplus that arose where the taxpayer had overstated its GST liability.

See below for a summary of the case.

[Tax Month – February 2020]