Business & Finance Taxes

Issues Related With Lodging Tax Returns

Tax return in Australia can be lodged in two ways, online and offline. The online process takes about 10-12 days for processing. The offline mode is bit lengthy and can take around 50 days. The Australian Taxation Office has made the procedure simple and convenient for residents. The subject of discussion is to make your tax return lodging easier and simpler:

Can I lodge for tax return any time?

No, you cannot lodge return throughout the year. Tax year begins on 1st July and ends on 30th June the succeeding year. The Australian Taxation office declares a date by which people should lodge tax return. Updates about such information are available on the website of the agency.

How can file tax return?

Tax return can be lodge in two ways- online and offline. For the online mode you need to have a computer with internet connection. The system must meet the technical specifications needed to run the e-tax lodging software. Processor must be Intel Pentium (equivalent) or higher versions. Latest operating system is recommended. The online mode takes around 12 days for processing a request.

One can also lodge return through designated offices of the ATO. The offline mode takes a bit longer, around 40-50 days, for issuing lodgement.

What if I face problem while lodging tax returns?

The ATO website is periodically updated. You must go through the site before you begin with the process. You can also drop your queries through the website. One can also seek the help of Tax Help Program, if you have low income.

In case of offline way, you can file the return yourself. One can also take assistance from registered tax agents and friends who have better understanding about the issue.

How much return I get?

You are entitled to get all the money you have overpaid as tax to the government.

What to do if I have lost the Notice of Assessment (NOA)?

You need not worry if you have lost the NOA. The ATO will reissue a NOA if you request for a duplicate. Since this document is vital for lodging return make sure you have it at hand.

Can I clean my agent's fee in the return statement?

If a person uses an agent for filing return he or she can claim the expenditure from ATO but in the next year's return statement.

How to get tax return if I am an overseas resident?

Overseas residents are also eligible for tax return, but rules are different for foreign nationals. You can contact the ATO for more information about the issue. Be prepared for extra work.

Can I receive return through EFT?

Australian Taxation Office always gives top priority to the residents. Therefore, to make the process smoother and faster, they have a facility of crediting tax return directly into the account of the applicant via Electronic Funds Transfer (EFT). Joint account holders are also eligible for this benefit.

 

People who are going through serious financial difficulties can request for faster actions in your case.
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