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Fraudulent & Overstated Refunds
This year the ATO is monitoring risk more heavily as to detect potentially overstated or fraudulent claims for refunds. Due to this, processing time has increased for all returns and we would like to remind clients that they should maintain adequate records to support any refund claims.
Interest entitlements on late refunds
The ATO has provided that any taxpayers entitled to refunds and where they are issued more than 30 days after the lodgement date will be enititled to interest on the amount.