Can I change between paying Retention Tax and exchanging information?
You can, but we’ll need your written consent. If you are paying Retention Tax, and the tax has already been paid by the time we receive your written consent to exchange information, it may not be possible to reclaim it. If you change your choice to exchange information, this will be based on the full financial year and won’t take into account any previous deductions of Retention Tax in that year.
Related Questions
- New Owners Question: (a) Why didn I receive a tax notice? (b) Am I responsible for paying the redemption amount since the property was sold in the tax sale or is the previous owner responsible?
- Can I change between paying Retention Tax and exchanging information?
- What are the penalties for not paying the tax?
