Interest on Refunds of Tax (LT-004) [1993] VICSROLT 4 (1 June 1993)

Revenue Rulings

LT.004

Interest on refunds of tax

Revenue Ruling LT.004

Preamble

Section 90 of the Land Tax Act 1958 requires the
Commissioner to repay amounts of overpaid tax,
subject to certain restrictions.

In such cases, taxpayers frequently request the
Commissioner to pay interest on the amount repaid.
Such interest may be payable under the Taxation
(Interest on Overpayments) Act 1986.

This ruling outlines the circumstances in which
interest may be paid on refunds of land tax.

Ruling

In accordance with the Taxation (Interest on
Overpayments) Act 1986, interest on refunds of tax
will only be paid where the overpayment giving rise
to the refund was a result of the following.

• A decision of the Commissioner upon an

objection, or

• A decision of the Tribunal, or

• A decision of a court in relation to:

• an objection; or

• a decision of the Tribunal.

Upon the success of such an appeal or objection,
interest will be paid on refunds of tax at the rate set
by the Governor-in-Council (10.085 per cent per
annum as at 1 April 1993).

ictoria

ON THE MOVE

Please note that rulings do not have the force of law.
Each decision made by the State Revenue Office is
made on the merits of each individual case having
regard to any relevant ruling. All rulings must be
read subject to Revenue Ruling GEN.01.

Denzil Griffiths

Commissioner of State Revenue

1 June 1993

CEASED 28 February 2002 CEASED 28 February 2002 CEASED 28 February 2002

CEASED 28 February 2002 CEASED 28 February 2002 CEASED 28 February 2002