AMP refunds tax mistake

AMP Financial Services will begin sending out thousands of refunds to its superannuation policyholders within the next two weeks. Policyholders were overtaxed by a total of $80 million, AMP admitted. He apologised to the 15 per cent of customers affected and said the company's tax systems have been amended. The refunds will be under $100 and in the form of cheques, super contributions or extra units.

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