ATO gives taxpayers green light to lodge returns
Taxpayers should check their details are up to date before and revise rules for deductions before lodging, the Tax Office says.
The Tax Office has advised that taxpayers with simple financial affairs can now submit their tax returns for the 2023-24 financial year.
Assistant Commissioner Rob Thomson said the ATO had completed pre-filling returns with millions of pieces of information from banks, employers, government agencies and private health insurers.
"Our Aussie Olympians are ready to go, and so is your tax return,” he said in a statement on Tuesday.
“Whether you lodge using a registered tax agent or lodge yourself through myTax, pre-fill information will now be available.”
“You just need to ensure the amounts are correct and make sure all your assessable income is included.”
Waiting for information to be pre-filled reduced chances of incorrect returns, the ATO said after finding that those who rushed to lodge tax returns on 1 July were twice as likely to make mistakes.
The ATO identified taxpayers’ failure to include all income when lodging as one of three focus areas for tax time. In June, it also warned against landlords inflating claims for rental deductions and individuals incorrectly claiming work-from-home expenses.
Echoing its focus areas, the ATO said taxpayers should ensure all details were up to date before lodging, including their contact, address and bank details.
Taxpayers seeking deductions should also have the right records to substantiate their claims even when using a registered tax agent, it said.
“In most cases, a bank or credit card statement (on its own) isn’t enough evidence to support a work-related deduction claim – you’ll need your receipts. No proof, no deduction,” Thomson said.
Thomson cautioned against simply duplicating deductions from previous years as rules around claims could change.
“Make sure you don’t just ‘copy and paste’ your deductions from last year, because you might be missing out on everything you’re entitled to. Check out the guidance on our website about what you can claim,” he said.
Self-preparers would need to lodge their returns by 31 October. The deadline was extended to mid-May 2025 for taxpayers using a tax agent, but the ATO advised them to contact their agent before 31 October.
The ATO also reminded taxpayers that while many would be expecting to receive money back, refunds were typically the result of excess tax withholding or payments throughout the year.
“It is important to note that any estimated refund is an estimate only, and there are a number of reasons your actual refund may look different,” the ATO said.
For example, you may receive a lower refund than you're expecting if it’s used to offset a debt you have with the ATO or another government agency.”
Once lodged, taxpayers could track their returns by logging into the ATO app or ATO online services through myGov, the ATO said.
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