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This tax time, don’t rush to lodge your tax return

As we get closer to June 30, the Australian Taxation Office (ATO) is reminding taxpayers not to rush lodging their 2023 income tax return.

Taxpayers who lodge before their income statement is marked as ‘Tax Ready’ or their other pre-fill information has been received run the risk of processing delays and follow-up questions from the ATO.

Returns lodged in early July are more likely to be changed by the ATO compared to those lodged later. There is a high chance that returns will be missing important information if they are lodged before late July.

From late July, most information from employers, banks, government agencies and health funds will be automatically loaded into your tax return, regardless of whether you use a registered tax agent or lodge your own return. All you will need to do is check that the pre-filled information is correct and add anything that is missing.

If you make a mistake on your tax return, you can make amendments through the ATO online amendment process via MyGov or by speaking to a registered tax agent.

For more information visit the ATO website.

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