Question 1

When will I get my Tax Refund?

Accepted Answer

Electronic returns are usually processed in ten business days.
 
Once your tax return is processed, the ATO issues a notice telling you if you’re entitled to a refund or that you are required to pay tax.
 
In general, after the final lodgment to ATO, you may receive the tax refund amount on your bank account within 1-2 weeks.

Question 2

Am I required to lodge Australian Tax Return?

Accepted Answer

Most people are required to lodge 1 tax return per year. Not sure if you are required to lodge your income tax return, read on.
 
In general, you are required to lodge your tax return if any of the following apply:
 
– Tax  amount was deducted from payments (such as salaries) made to you during the financial year.
– You are Australian resident for tax purposes and your taxable income was more than the tax-free threshold amount.
– You are a foreign resident for tax purposes and you received more than $1 in Australia during the financial year.
– You are leaving Australia either permanently or for more than 1 financial year.
 
You are not required to lodge an Australian tax return if you are a foreign resident and your only Australian-sourced income was interest, dividends or royalties from which non-resident withholding required tax has been withheld.
 
Note : From 1 July 2017 if you have a Higher Education Loan Program (HELP) or Trade Support Loan (TSL) debt and you’re a foreign resident for tax purposes, you are required to declare your worldwide income or lodge a non-lodgment form.

Question 3

What about my residency status

Accepted Answer

To understand really your tax situation, you are required first to work out if you are an Australian or foreign resident for tax purposes.
 
ATO doesn’t use the same procedures as the Department of Immigration and Border Protection (now known as the Department of Home Affairs). This actually means that you:
 
– can be an Australian resident for tax purposes though not an Australian citizen or permanent resident
– may have a visa to enter Australia, but not an Australian resident for tax purposes.
 
If you’re a foreign resident for tax purposes you are required to declare on your tax return any income earned in Australia, including:
 
– employment income
– rental income
– Australian pensions
– capital gains on Australian assets.
 
If you have a Higher Education Loan Program (HELP) or Trade Support Loan (TSL) debt and you’re a non-resident for tax purposes, you are required to declare your worldwide income or lodge a non-lodgment form.
 
If you’re an Australian resident for tax purposes, you are required generally to declare all income you earned both in Australia and internationally on your Australian tax return.
 
If you hold a temporary visa, then you are a temporary resident. Temporary residents only declare income derived in Australia, plus any income earned from employment performed overseas for short periods while being a temporary resident of Australia.

Question 4

Will my return be lodged today?

Accepted Answer

Whilst every effort is taken to have your return lodged the day it is prepared, usually tax returns are lodged the next day after being checked by our tax agents.

Question 5

I haven’t got my payment summary, can I still do my taxes?"

Accepted Answer

Yes!! We can obtain your Income Statement (formerly called a Payment Summary) from the tax agent portal.

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FAQs

When will I get my Tax Refund?

Am I required to lodge Australian Tax Return?

What about my residency status

Will my return be lodged today?

I haven’t got my payment summary, can I still do my taxes?"