Tips and rumours

Jul 1, 2009

Netbank still struggling

Tipsters tell of more Netbank issues, glitches at the ATO, possible job losses at Rio Tinto and more.

I’m not sure if the tax office is really desperate, but I just received a quarterly PAYG instalment notice that is more (for 1 quarter) than the entire amount of tax I paid last Financial Year. I was expecting an increased amount due to the financial boom we are experiencing, but does the ATO expect that I am going to increase my profits more than fourfold in the next 12 months? A quick check with some business associates confirms that I am not the only one. A glitch? A plan? Not sure. Can’t get through to the ATO and am awaiting a call back.

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