ATO erroneously charging GIC due to system update
Liz Gibbs • March 3, 2020
The ATO has recently combined systems from 2002 and we are aware of two cases where clients have been charged backdated GIC from as far back as 2002. The ATO advises us that this is a system glitch and and they are working on removing the GIC from the relevant accounts but they do not know how long this will take. The GIC in these two cases does not need to be paid. If you have an amount of GIC on your account out of the blue please contact the ATO for further details or contact us to look into it for you.
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