Monday, October 12, 2009

Individuals: Tax Time FAQ’s – Post Lodgement

1. You have lodged your tax return, but where’s your refund?

To check on the progress of your tax return, you can phone our automated phone service on 13 28 65 anytime, 24 hours a day. You will need to provide your tax file number.

We will process your tax returns and baby bonus claims within our service timeframes. When enquiring about your refund or baby bonus claim, ensure you have waited the full processing period before you call. We are unable to assist callers who enquire before the processing period has passed.

The service timeframe that applies to you will depend on the method you have chosen to lodge your tax return. Our standard processing time is two weeks if you lodged our tax return online using e-tax, and six weeks if you posted your tax return to the Tax Office.

If you are lodging your return using a tax agent, the service standard processing time is generally one to two weeks, provided your tax agent has lodged electronically. If your tax agent posts your tax return to the Tax Office, the service standard will be six weeks. All service timeframes start from when the Tax Office receives your tax return


2. If you don’t understand your notice of assessment, can you get someone to explain it to you?

After we have processed your tax return, we will issue you with a notice of assessment. This will tell you if you are entitled to a refund, or if you have a tax debt to pay.

To understand how your refund or tax liability is calculated, follow these steps:
work out if your taxable income is correct (the assessable income you earned minus deductions) add up the amount of tax payable on that amount of income (tax on taxable income, plus Medicare levy and Higher Education Loan Programme/Student Financial Supplement Scheme repayments), and deduct any offsets from your tax payable, and then the tax already paid (amounts withheld by your employer and paid on income activity statements).

If there is an amount left over, this is refunded to you. If there is an amount outstanding, this is your tax debt amount payable.

The Comprehensive tax calculator may be able to help you calculate your tax liability.



3. What if your notice of assessment doesn’t add up?

If your notice of assessment doesn't add up, you will need to check the amounts you have put on your copy of your tax return. If an amount has been entered incorrectly on your tax return, this will affect the outcome of your assessment.

To change any details you put on your original tax return, contact your accountant / tax agent or refer to Amendment requests.


4. How can you correct a mistake you made on your tax return?

If you have made a mistake on your tax return, you need to submit a written request to the Tax Office to amend the relevant tax return as soon as possible. There is a time limit in which you can request changes to a tax return you have already submitted and by law you must ensure you advise us of any error or omissions as soon as possible.

Contact your accountants / tax agent to have them amend your tax return and lodge with us.

For more information about how to lodge a written request, refer to Amendment requests.

You cannot submit amendments over the phone or by e-tax. They must be submitted in writing to the Tax Office or through a registered tax agent.

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