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ATO Reminder EFT Refunds

By on June 24, 2015 in Australian Tax Office Updates, Hints & Tips, Interesting Articles

ATO Reminder EFT Refunds

The ATO has reminded tax agents that the fastest and most secure way for clients to receive their refund is to have it paid directly into a nominated Australian bank account using electronic funds transfer (EFT).
From 1 July 2013, where a refund is expected, individual tax returns will require bank account details, including the BSB and account number, to be entered when lodging via the electronic lodgment service (ELS).
Joint accounts and tax agent trust accounts are acceptable.
However, the ATO understands there may be circumstances where a client may not be able to provide bank account details, so if this is the case (and the agent cannot provide their own trust account details), the ATO recommends phoning them on 13 72 86 Fast Key Code 1 3 1 2 for further assistance.
Note: In addition, for the first time, all taxpayers will need to include their spouse details (i.e., whether or not they are claiming tax offsets, etc, that are affected by having a spouse)
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