Common mistakes and questions at tax time

The end of the financial year is a busy time for most people, with paperwork to sort through and tax returns to prepare. With so many things to remember, it’s easy to make a simple mistake in your return.

There are a number of common mistakes people make when filling out their tax return that can be avoided. These include:

forgetting to include income such as interest from a bank account, or income from a previous job
forgetting to claim tax offsets or deductions such as rental property expenses
lodging an incomplete tax return, for example forgetting to sign it or include your date of birth
leaving out distributions from sources such as trusts, investments, and capital gains
forgetting to include additional information about the Medicare levy or Medicare levy surcharge.

What do I do if I make a mistake?

If you realise you have made a mistake on your tax return after you’ve lodged it, you need to correct it as soon as possible by requesting an amendment.

For more information on what to do if you make a mistake or how to request an amendment, visit the Tax Office website www.ato.gov.au

Common questions at tax time

The Tax Office receives thousands of calls at tax time on many different topics. Some of the most frequently asked questions at tax time include:

Do I need to lodge a tax return?

Whether you need to lodge a tax return will depend on the amount and type of income you have received this year, if any tax was withheld and your personal circumstances.

There is a tool on the Tax Office website which can help you work out if you need to lodge a tax return. Visit www.ato.gov.au or call the Tax Office on 13 28 61.

How do I lodge my tax return?

There are a number of ways to lodge your tax return.

The easiest way is to lodge online using e-tax. E-tax is the Tax Office’s free, online lodgement software, and is available to download from the Tax Office website www.ato.gov.au/etax

If you prefer paper you can use TaxPack 2009. Copies of TaxPack are available from Tax Office shopfronts, newsagencies or online at the Tax Office website www.ato.gov.au

People with simple tax affairs may be able to lodge using the short tax return. Call 13 28 61 for more information.

You can also use a registered tax agent to lodge on your behalf.

What is my TFN?

Your tax file number, or TFN, is issued by the Tax Office and is used to identify your tax records.

Everyone has a different tax file number and it is yours for life, even if you change jobs, move interstate or change your name.

When you make enquiries about your tax records the Tax Office will ask for your tax file number.

Your tax file number is valuable, so it’s important you don’t share it with friends or provide it over the internet.

What is my notice of assessment sequence number?

Your notice of assessment is an itemised statement which shows

your taxable income
how much tax you have paid during the year and whether you owe the Tax Office money
whether you have paid enough tax, or
whether you are due a refund.

Your sequence number is printed on the top of your notice of assessment.

You receive your notice of assessment after you lodge your tax return.

When will e-tax be available?

You can lodge your 2009 tax return online using e-tax from 1 July 2009.

However, if you lodge your tax return after the due date, which is 31 October 2009, penalties and interest charges may be applied.

Where’s my refund?

To check on the progress of your tax return, you can call the Tax Office on 13 28 65 any time, 24 hours a day. You will need to provide your tax file number, so make sure you have it handy.

If you’re due a refund the quickest way to get it is to lodge using e-tax. Most people who lodge using e-tax receive any refund owed to them within two weeks.

More information

The Tax Office website provides a lot of simple, easy to understand information that can help you lodge your tax return. Visit www.ato.gov.au or phone 13 28 61 for more information.

Last Modified: Tuesday, 30 June 2009

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