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  • Tax Time 2017 taking time to get your tax right audio and television grabs

    Tax time tees off this weekend and the Australian Taxation Office (ATO) is reminding taxpayers to take their time to get it right.

    The audio recording features Assistant Commissioner Kath Anderson discussing why taxpayers should wait until August to lodge their tax return, and provides advice for those that want to lodge in July. The audio file (WAV 13.3MB)This link will download a file is available for download for radio journalists.

    One video recording features Assistant Commissioner Kath Anderson discussing why taxpayers should wait until August to lodge their tax return, and provides advice for those that want to lodge in July. The video is available for downloadExternal Link for broadcast journalists.

    We have also provided a range of stock footage as another recording available for downloadExternal Link. The stock footage includes vision of ATO signage, our online lodgment product, myTax and our record keeping tool myDeductions, available in the ATO app.

    Audio transcript

    This year the ATO is reminding taxpayers to take the time to get their tax return right.

    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.

    If you wait until mid-August, we’ll have most of the data from your employers, banks, government agencies and other third parties pre-filled into your myTax return.

    All you have to do is double-check the pre-filled information and submit.

    If you’d prefer to lodge sooner, you’ll need to ensure you declare all your income.

    This includes income from any cash jobs, the sharing economy, your second job, foreign sources and capital gains.

    Keep in mind, your refunds may be delayed if our system finds an error in your tax return and we need to investigate.

    To lodge your return, you can choose to use our online lodgment tool myTax, which is fast, easy and secure, or you can lodge with a registered tax agent.

    Video 1 transcript

    Kath:

    We know that a lot of people want to get in early and lodge online, but our analysis also tells us that if they do they run a much higher risk of getting their return wrong and leaving out some income.

    Interviewer:

    And why is that?

    Kath:

    That’s because by mid-August we have a range of information coming from shares, and banks, government agencies and other third-party providers and we use that to pre-fill returns. Now if they don’t wait til then, they need to get all that information themselves.

    Interviewer:

    So what’s your advice for self-preparers?

    Kath:

    If you’re a self-[preparer, we recomme4nd you wait til mid-August, that way all you need to do is check the information that we’ve pre-filled add your deductions and any other information and you’re right to go. If you’re using a registered agent, they might also prefer to wait until mid-August because the information is available to them too.

    Interviewer:

    So if people still want to lodge in July, do you have any advice for them?

    Kath:

    Absolutely, if you still want to lodge in July that’s okay but you really need to be careful to make sure you include all of your income. Now that includes any income from your second job, perhaps some sharing economy income, capital gains, any foreign income that you’ve earned, you need to make sure you’ve included all of it.

    Interviewer:

    What happens if people do miss some income?

    Kath:

    If they do miss some income, that’s okay. What they can do is lodge an amendment later on, and you can use myTax to do that as well. Or go through your agent.

    Interviewer:

    And how do you recommend people lodge this year?

    Kath:

    We recommend if you’re self-preparing, use myTax. It’s our online tool and it’s easy and safe and secure. If you’re using an agent, then obviously go through your agent.

    Last modified: 28 Jun 2017QC 52710