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Re: Centerlink Debt & Amendment of Income Tax return

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tjh
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Hi,

I was notifified and repaid a centerlink debt of $2500 recently, within the 2018/19 financial year.

The debt relates to overpayment in the 2013/14 financial year, on which I payed income tax on this amount.

I have been issued an ammended payment summary by centerlink showing the new corrected payed amount, this letter states I should request for an ammendment to my tax return to include this corrected amount. Obviously I would like todo this as it is in my benefit to re-claim the tax I originally paid on the $2500 in 2013/14 that has now been repaid. 

 

My question is how should I do this:

A: The debt was incurred in the 2018/19 financial year, and is therefore assessed as an exspense in this years tax return?

or

B: The 2013/14 tax return is to be ammended?

 

My preference is option A, as there appears to be limitations with time limits on ammending past tax returns beyond 2 years old, involving lodging an objection to the return? (However if option B is the only option any guidance how I go about doing this would be much appreciated Smiley Happy

 

Thanks

 

 

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Hi @tjh,

 

Thanks for getting in touch!

 

If information you’ve previously reported in an income tax return needs to be corrected, you may be able to lodge an amended if it’s within the two year time limit from when your Notice of assessment (NOA) was issued. You can find more information about income you must declare including Government payments on our website.


If you’re outside the two year time limit to lodge an amendment, you’ll need to lodge an object and request an extension of to time due to the circumstances. You can lodge an object by completing an Objection form - for taxpayers and at Q8b select 'Yes' and provide information about how the debt came about with Centrelink.


If you have further questions about lodging an objection, you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

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It's the 2014 return that would need to be amended.

An accountant can lodge a return outside the amendment period, and then make an objection when it gets knocked back for being outside the timeframe - assuming they have a good case.

 

I don't know if you can do this as an individual.

But this page makes it sound like you can:

https://www.ato.gov.au/General/Correct-a-mistake-or-amend-a-return/Correct-(amend)-an-income-tax-ret...

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Hi @tjh,

 

Thanks for getting in touch!

 

If information you’ve previously reported in an income tax return needs to be corrected, you may be able to lodge an amended if it’s within the two year time limit from when your Notice of assessment (NOA) was issued. You can find more information about income you must declare including Government payments on our website.


If you’re outside the two year time limit to lodge an amendment, you’ll need to lodge an object and request an extension of to time due to the circumstances. You can lodge an object by completing an Objection form - for taxpayers and at Q8b select 'Yes' and provide information about how the debt came about with Centrelink.


If you have further questions about lodging an objection, you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

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