Countdown is on to the end of tax time
WITH just weeks to go before the deadline passes, the Australian Taxation Office is encouraging taxpayers to get their 2016 tax returns in now.
Assistant Commissioner Graham Whyte said that people lodging their own
tax returns need to have them in by October 31.
“This tax time over 7.8 million people have lodged so far and we’ve already issued 5.9 million refunds.
“But there are still millions of taxpayers yet to lodge.
“MyTax, the ATO’s online lodgment service, is a great way to complete your tax return efficiently.
“With pre-filled information, and fully integrated tools and calculators, it is safe and secure, and can be accessed on any smartphone, tablet or computer.
“You just need a myGov account linked to the ATO.
“This is the first year myTax has been available for everyone, and it smashed 2015’s user record, clocking in at 2 million users only two months into tax time.”
Mr Whyte said people can also choose to use a registered tax agent.
“Most registered tax agents can lodge returns for their clients later than the October 31 deadline. But if you are using one for the first time or using a different tax agent to last year, you need to contact them by October 31, 2016.”
“If you are due a refund, you will generally receive it within two weeks.
“The average processing time for online lodgments at the moment is seven days.”
Mr Whyte said that once people have lodged they can access a range of support through online services.
“More than five million people have already linked their myGov account to the ATO’s online services, with over 400,000 new people linking in this year alone.
“You can easily keep track of the progress of your tax return using our online services.
“The tool has already been used 3.3 million times this tax time,” Mr Whyte said.
“And if you realise you have made a mistake or forgotten to include
something on your tax return you can lodge an amendment.
“If you’ve got a debt you can also make a payment or create a payment plan.”
Mr Whyte said that if you know you are going to have a tax bill you shouldn’t put off lodging.
“By lodging you’ll know exactly how much you owe.
“You also have the same amount of time to pay regardless of when you lodge. If you have a debt, you’ll generally need to pay by November 21.
“Most people pay their debt on time, but we understand that sometimes people experience issues that prevent them from meeting their tax payment obligations.
“If this happens, contact us as early as possible and make sure you still lodge by the deadline.”
For more information on help with paying a debt go to www.ato.gov.au/individuals/payments-to-ato/help-withpaying/.
For more information about the ATO’s online services go to www.ato.gov.au/onlineservices.