We issue more than 15 million payments annually. There is a robust control environment in place to ensure these payments are made correctly. However, given the complexity of the tax law, the systems needed to administer it and the potential for human error it is inevitable that sometimes incorrect payments are issued.
Incorrect payments become debts which are recoverable under certain provisions of the Taxation Administration Act 1953. Some incorrect payments fall under the provisions for recoverable advances or recoverable payments.
Section 15D of the Act requires that we publish information about recoverable advances and payments. This includes advances and payments that occur in one financial year, but which are identified and reported in a later financial year. This is referred to as ‘deferred reporting’.
The tables below record recoverable advances and payments identified in the year ending 30 June 2024.
Advances | 2023–24 |
|---|---|
Incidents | Nil |
Number (clients) | Nil |
Value | Nil |
Payments | 2023–24 |
|---|---|
Incidents | 112 |
Number (clients) | 561 |
Value | $7,237,891 |
Deferred reporting 2023–24
Payments | Reported in 2023–24 |
|---|---|
Incidents | 37 |
Value | $2,001,444 |
The figures in the value column represent recoverable advances or payments reported in 2023–24 but which occurred in a previous financial year.