You can use the paper Tax return for individuals and the Individual tax return instructions to lodge your paper tax return by mail. Most refunds are issued within 50 business days of lodgment. To get your refund faster – in most cases within 12 business days – why not lodge your tax return online this […]
Data matching to be expanded on individual returns
Data matching to be expanded on individual returns The ATO has advised that last year, it cross-referenced information reported in tax returns against over 600 million transactions provided to it by third parties to identify omitted income and gains, or incorrectly-claimed offsets or entitlements to exemption from surcharges. It also contacted nearly 400,000 taxpayers who […]
Standard Tax Deductions- Personal Tax
Source:- www.ato.gov.au Standard Tax Deductions- Personal Tax According to the ATO you need to have made the purchase in the course of earning your assessable (taxable) income and it must not be a private, domestic or capital expense. If the expense was both work-related and private or domestic, you can only claim a deduction for the […]