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Australia To Pre-Fill Taxpayer Data In Returns

by Mary Swire, Tax-news.com, Hong Kong

29 June 2017


The Australian Taxation Office has advised taxpayers not to rush to file their returns early, and said that by August it will have pre-filled most of the necessary data.

Assistant Commissioner Kath Anderson said: "We know that some taxpayers like to get in early and lodge in the first month of tax time, but our analysis shows that if you lodge in July, you're far more likely to make a mistake by leaving out some of your income."

According to Anderson, 2.8 million people lodged their tax return in July last year, accounting for 22 percent of all tax returns lodged for 2015-16.

She stressed that it is the responsibility of taxpayers to ensure that they declare all income, including income from cash jobs, the sharing economy, second jobs, foreign sources, employee share schemes, and capital gains.

Anderson added that, by mid-August, the ATO has pre-filled most of the data from employers, banks, government agencies, and other third parties.

"Waiting for this information will help you avoid mistakes. For many people waiting until August means all they have to do is double-check the information we have pre-filled, enter any deductions and then hit submit," she explained.

TAGS: compliance | tax | tax compliance | revenue guidance | accounting | share schemes | Australia | tax authority | individual income tax

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