Business

Tax return deadline is upon us

PEOPLE who prepare their own tax return only have a week until the 31 October lodgment deadline.

"I urge anyone worried about not meeting the deadline to call 13 28 61 as soon as possible, to discuss their situation," said Tax Commissioner Michael D'Ascenzo.

"It is important to lodge before 31 October to avoid penalties.

"The quickest and easiest way to lodge on time is by using e-tax. Over two million people have already lodged online.

"E-tax can save you time by downloading information like your bank interest, payment summaries, health insurance details and government payments directly to your return.

"It also has built-in checks and calculators to help you complete your return, and provides you with an estimate of your tax assessment.

"Best of all, most refunds will issue in 12 business days or less."

E-tax can be downloaded free from the ATO website at www.ato.gov.au/etax.

Sometimes, simple errors can hold up tax refunds. Some common mistakes that cause delays include:

  •     providing incorrect date of birth, address or bank details
  •     not advising of a name change from a previous year's return
  •     forgetting to include income such as interest from bank accounts, a previous job or income from overseas
  •     not completing labels you are required to, for example the 'income test' questions at IT1-IT7 on the tax return (this information is used to work out entitlement to payments or Child Support obligations).

If you are using a tax agent for the first time or a different tax agent to last year, you need to contact them before 31 October.

Visit www.tpb.gov.au to check that your tax agent is registered.

Topics:  ato, deadline, tax, tax return




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Warwick gets ready for the big freeze

Trevor Wiseman braving the outdoor movies at Queens Park tonight, getting ready for the sub-zero temperatures coming up.

Time to rug up, Jack Frost is well and truly on his way

Cherrabah gives it both barrels over the weekend

Graeme Frankling at the Cherrabah SSAA field simulation clay target competition.

Cherrabah, a clay target's nightmare this weekend

Latest deals and offers


The best retro movies of the week? May 27 - June 3

Gregory Peck Photo Contributed

This week TV fan get to see Tom Cruise in a 1980s classics

Own Sunshine Coast property? You’re about to make money

UP AND UP: Property owners are likely to win from rent and price increases but tenants and first home buyers might not be so happy. Photo: Brett Wortman / Sunshine Coast Daily

Good new for property owners, not so good for buyers and tenants.

Sale nears on last large block of land in Coolum

The 43.37ha property on South Coolum Rd has sold.

South Coolum Rd property to be land banked