When you’re expecting a tax refund, waiting is never easy. Instead of just wishing for it to arrive sooner, read on!
There’s no way to know exactly how long the ATO will take to process your tax return. Behind the scenes, the ATO examines tax returns more closely than ever, analysing and comparing your return to other people like you to see if there’s anything ‘out of the ordinary’. All these things can make your refund take longer. However, some simple steps can help ensure your refund doesn’t take longer than it should.
Our tax experts at Etax.com.au share their simple tips to help you get a faster tax refund!
1. Gather all your tax information and keep it together in one place:
- Your employer(s) will provide your income records directly to the ATO, but if you received other forms of income, keep a record of it.
- Collect receipts for work-related expenses and other deductions, like charity donations. Just gather them in one place, all year long. Then simply fill in the new easy-to-follow etax.com.au form. Also see how to Save Receipts and Deductions.
With Etax, you can choose the sections you need to complete and skip the rest. That means you can read less, you’re done faster, and you’re on your way to a faster tax refund!
2. Get your tax and contact details right:
- Make sure you enter your personal details into the etax.com.au form correctly. That way, if anything comes up, your accountant at Etax can get it sorted for you right away.
- Provide an email address that you check frequently, plus your current mobile number.
- Add [email protected] to your email address book – this helps make sure important notices reach your inbox.
3. Make sure your return is honest and realistic:
- Only enter deductions that you can legally claim. If you’re not sure, we’re here to help!
- If you didn’t pay for it, or you were reimbursed, don’t include it on your return.
If you inflate the dollar amount of deductions, it will ring alarm bells over at the ATO. This is the best way to get yourself in trouble with them. The ATO knows more about your finances than you realise!
If you “get creative” with your tax return, you could lose your refund completely, rather than get your refund faster!
4. Play it safe, with an expert on your side:
We’re all human and very few of us are tax experts, so mistakes will happen from time to time. To make sure you always get your taxes right, start with Etax looking out for you:
Our accountants check your return for anything that could slow down your tax refund. They know what ‘triggers’ an ATO audit, like errors or unusual claims. Spotting those problems is one of the things we do best.
Jateen Topiwala | Tax Manager
At Etax, you can Live Chat with your accountant or, if you’re in a hurry, just leave a note in the ‘Any Other Questions’ section at the very bottom of your tax return, then sign your return online. Next, your accountant will get in touch to answer all your questions and give your tax return the best chance of a faster tax refund, then we’ll get it lodge at the ATO, as soon as possible.
For more information on how the experts at Etax can help you get a faster tax refund, contact us by phone on 1300 693 829 or email the team on [email protected].
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