Hi everyone,
My partner and I have just lodged our 06 tax returns (lodged before 31 March but just received the Assessment Notice from the ATO).
And it seems that they have not charged either of us the Medicare Surcharge. We earn well inexcess of $100K as a couple and don't have private health cover.
The accountant appears to have completed the tax returns correctly but for some reason the ATO hasn't picked it up.
What I want to know is. . . should I just so tough luck to the ATO as it was their mistake and do nothing. . . or should I relodge an amended return and pay the surcharge.
What would others do?
And does anyone no of the ramifications, if they pick up that they made a mistake years down the track - will I be hit with penalties and interest?
PS we now have private health cover as of 1 July 06 - so won't have to pay it next year
My partner and I have just lodged our 06 tax returns (lodged before 31 March but just received the Assessment Notice from the ATO).
And it seems that they have not charged either of us the Medicare Surcharge. We earn well inexcess of $100K as a couple and don't have private health cover.
The accountant appears to have completed the tax returns correctly but for some reason the ATO hasn't picked it up.
What I want to know is. . . should I just so tough luck to the ATO as it was their mistake and do nothing. . . or should I relodge an amended return and pay the surcharge.
What would others do?
And does anyone no of the ramifications, if they pick up that they made a mistake years down the track - will I be hit with penalties and interest?
PS we now have private health cover as of 1 July 06 - so won't have to pay it next year