Tax agents with affected clients will also be contacted directly.

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.

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