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What is the Tax Offices policy on remitting GIC?

April 26, 2017GIC Office policy remitting tax

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What is the Tax Offices policy on remitting GIC?

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If a GIC amount is imposed, you can ask for it to be reduced in part or in full. The grounds for the remission of GIC are set out in the Chapter 93 of the ATO Receivables Policy. The policy allows for extenuating and unforeseen circumstances to be considered as well as the steps taken to relieve the effects of those circumstances.