With the new tax season upon us, we understand that our clients are eager to have their tax returns completed and processed, especially those who are owed a tax refund. We thought now would be a good time to remind our clients of the process from lodging a tax return to having the refund issued to your financial institution.
First and foremost, to ensure your return is lodged quickly, we ask that our invoice is paid promptly, and tax return documents signed, we cannot lodge without these to steps first being completed.
The ATO advises they will generally process individual tax returns within 2 weeks, however, their service standard is 28 days. This means, whilst the processing of a tax return is within the 28-day time frame, the ATO will not manually process it any quicker.
If your tax return is going to take more than the 28-day service standard, the ATO will generally notify us. This can happen for several reasons such as:
- You have recently lodged returns for previous financial years
- You currently have a debt with the ATO
- The ATO are reviewing information within your tax return
- The bank details provided are incorrect
- Checks need to be completed with other ATO departments ie: Centrelink, Child Support or Family Assistance Office.
If you have any questions about your tax return, please contact our office to discuss further.