Issue
Can a taxpayer make a late claim for the Savings Bonus for Older Australians (SBOA) under Part 4 of the A New Tax System (Bonuses for Older Australians) Act 1999 (BOA Act)?
Decision
No. A taxpayer cannot make a late claim for the SBOA under Part 4 of the BOA Act as it will not be considered to be a 'proper claim' under section 37 of the BOA Act.
Facts
The taxpayer lodged their claim for the SBOA on or after 1 July 2001.
Reasons for Decision
In order to be eligible for the SBOA, a taxpayer is required to submit a 'proper claim'. A 'proper claim' is defined in section 37 of the BOA Act and consists of several tests. Paragraph 37(2)(b) of the BOA Act provides that a claim is a 'proper claim' if it is made after 30 June 2000 and before 1 July 2001.
The taxpayer lodged their claim for the SBOA on or after 1 July 2001. As the taxpayer has not met one of the tests, a 'proper claim' has not been made and the taxpayer is therefore not eligible for the SBOA.
There is no provision in the BOA Act or any other legislation under which an extension of time to lodge a 'proper claim' may be granted. The taxpayer is therefore unable to make a late claim for the SBOA under Part 4 of the BOA Act.