People,

Super is not the only thing the tax office is dragging the chain on.
It took me 8+ months to get a refund on the up-front election I made
on my options. It came through about 3 weeks ago.

If you are still waiting for a refund, then contact me privately, and
I can supply a useful contact in the tax office.

If you made an up-front election in relation to the OT options you
received during your employment, and if these options lapse
unexercised, you are able to apply for a refund on the tax paid on a
s139E election.

You do this by submitting a request for amendment of the tax return
that contained the s139E election, except the usual time-limits for
amendments do not apply for this type of amendment request.

While it took them 8+ months, they were good, in that they rang me at
work every 4 weeks to explain the situation. They did volunteer that
there was a legal issue to do with whether the law said you could seek
a refund on ALL the options, or only the ones which were FORFEITED (as
in to say, options that had not vested when you were made redundant,
for example). Eventually, they ruled in favour of ALL the options.

This agrees with the explanation given by a partner in PWC
(accountants) in Sydney, who said "It doesn't matter if you simply
didn't like the look of the options - you still get a refund on a
s139E election"

Nick Bishop, grad.com @ nick4mony
Mobile 0438 366342
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Actions speak louder than words. Screaming is an action.
-oOo-