The Tax Office now has in place systems to ensure this does not happen in future. All new systems, and major changes to existing systems, go through a legal technical assurance process. The ATO is working to resolve this matter as quickly as possible and apologises for any inconvenience. Information • Compensation will be applied at the base interest rate (90-day Bank Accepted Bill rate), currently 5.62%. How many people are affected? • 218,508 individuals • 5,570 companies • 1,305 super funds How much money is involved? • $150-$180 million – a final figure will be available when the historical data is fully analysed.
