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ATO advises not to lodge too early…

ATO advises not to lodge too early…

The Australian Taxation Office (ATO) advises against early tax return lodgment. Here’s why:

  1. Avoid Mistakes: Taxpayers who lodge in early July are twice as likely to make errors. Rushing increases the chances of missing crucial information, especially if you have income from multiple sources.
  2. Automatic Loading: From late July, employers, banks, government agencies, and health funds will automatically load most information into your tax return. Whether you use a tax agent or self-lodge, this ensures accuracy.
  3. Preparation Matters: Instead of rushing, take a few weeks to gather records, update details, and review occupation guides on the ATO website. Claim what you’re entitled to.
  4. Check ‘Tax Ready’: Once your employer finalizes your income statement, it’ll be marked as ‘tax ready.’ Verify this in myTax before lodging.
  5. Fixing Mistakes: If you realize errors after lodgment, use the ATO online amendment process via myGov or consult your registered tax agent.

Remember, tax time isn’t a race. Take your time, get it right, and avoid unnecessary stress!


All information was sourced from with the aid of copilot

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