A lot of refunds are changing hands at the moment. All sorts of arrangements are being cancelled because of mother nature and today we read Contact and Telecom have discovered billing errors which will require refunds being paid to customers.
A word of caution: if you are GST registered and paying or receiving a refund make sure you are on top of what you have to do for GST purposes. Whether you are entitled to a refund of GST previously accounted for or have to pay back GST already claimed you should make sure you understand the GST timing and documentation requirements.
Barrister, Director and Consultant specialising in tax, family enterprise governance and succession, helping start ups and entrepreneurial enterprises grow safely and international expert on value added tax policy and implementation.