The ATO advises taxpayers that their income tax return is ready to lodge.

The Australian Taxation Office (ATO) advises taxpayers with simple affairs are now in a great position to lodge their tax return. With millions of pieces of information now pre-filled, the ATO is giving taxpayers the green light to lodge.

ATO Assistant Commissioner Rob Thomson said the ATO has now pre-filled tax returns with information from most banks, employers, government agencies and private health insurers.

‘Our Aussie Olympians are ready to go, and so is your tax return’, said Mr Thomson.

‘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,’ said Mr Thomson.

Before you lodge, make sure all your details are up to date. This includes your contact, address, and bank details.

If you plan to claim deductions this year, make sure you have the right records.

‘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,’ said Mr Thomson.

The ATO is also reminding taxpayers that rules around how and when you can claim a deduction can change, including car expenses and working from home costs.

‘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,’ said Mr Thomson.

Even if you use a registered tax agent, you’ll still need to make sure you have all of your records to substantiate your claims. Remember that you are ultimately responsible for the information provided in your tax return.

If you lodge your own tax return, the due date to lodge is 31 October. If you use a registered tax agent, you may have some more time to lodge. Make sure you contact your registered agent before 31 October.

‘Most taxpayers will have their tax returns finalised within two weeks. This process can’t be sped up, even if you call us,’ said Mr Thomson.

You can keep track of your return by logging into the ATO app or ATO online services through myGov, regardless of whether you lodged yourself or through a registered tax agent.

We recognise that many people expect a refund at tax time. Remember that for most people, any refund you receive is a result of too much tax being withheld or paid 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. 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.

If you have any questions, feel free to ask them in the comment section. We will be happy to answer all your queries.