The best time to to lodge your tax return, according to the ATO
The Australian Tax Office (ATO) has delivered some welcome news for millions of Australians who have been waiting patiently to claim their tax return.
It is officially now a great time to lodge your tax return as most taxpayers with "simple affairs" will have their information pre-filled into their MyGov accounts, the ATO said.
Income statements should be marked as "tax ready" now we are 24 days into the 2025/26 financial year.
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The Australian Tax Office said now is a good time for taxpayers with "simple affairs" to lodge their return. Australian Tax Offie
Assistant Commissioner Rob Thomson said the ATO has completed pre-fill of over 91 million pieces of information from banks, employers, government agencies and health insurers for individual tax returns.
A lot of the pre-fill tax return information, including wages and interest, isn't usually available until mid-July.
"Now you're good to go! Whether you lodge using a registered tax agent or lodge yourself through myTax, pre-fill information will now be available," Thomson said.
"Don't forget that you need to include all sources of income in your tax return. This includes side-hustles, linked income from providing ride sourcing services or selling services via an app.
"Remember, the ATO has 40 industry and occupation specific guides to assist you in what you can claim and what records are required to prove it."
Thomson reminded taxpayers to carefully check the pre-filled data to ensure it matches and to add anything that may be missing.
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A lot of the pre-fill tax return information, including wages and interest, isn't usually available until mid-July. Louie Douvis/AFR
He said most refunds will be processed within two weeks and you have until October 31 to lodge your return or register with a tax agent.
The ATO has also added "powerful" new safety features to its app to protect Australians against fraud, Thomson said.
"The ATO app will send you real-time messages when changes are made to your ATO record, and you can quickly lock your account to prevent unauthorised access or fraudulent refunds," Thomson added.
"These features provide peace of mind knowing your account is protected and you remain in control of your tax affairs anytime, anywhere."
Most tax returns may be ready to lodge now, however some experts say there is a "sweet spot" during tax season.
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The ATO has also added "powerful" new safety features to its app to protect Australians against fraud. Australian Tax Offie
Mark Chapman, Director of tax communications at H&R Block, previously told 9news.com.au that mid-July to mid-August is usually the best time for Australians expecting a tax refund.
Chartered Accountants Australia and New Zealand (CA ANZ) tax expert Susan Franks also said the ideal time would be waiting a few weeks and lodging in August.
"If you only earn salary or wages and interest, then just waiting a few weeks and lodging in August will probably be a safe sweet spot," she said.
Those with more complicated affairs or who are expecting a tax bill can wait until closer to the October 31 deadline to save up cash to cover the bill, the experts said.
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.
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