ASFA says the second round of exposure draft legislation regarding the circumstances where the Commissioner will refund an overpayment of GST is an improvement on the previous draft. However, in its submission to Treasury, ASFA said it was concerned that the draft continues to prevent taxpayers from seeking refunds of GST in legitimate circumstances. Among other things, ASFA noted the narrowness of the operation of the Commissioner’s discretion to refund where the statutory requirements are not met. The submission (dated 26 March 2013) is available on the ASFA website.
[LTN 60, 28/3/13]