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  • Tax Time update – 31 July 2018

    Table 1: Tax returns received – Year to date (overall), current year 2018

    Lodgment – Type and channel

    Overall year to date returns received as at 30 July 2018

    Current year returns received as at 30 July 2018

    Comparison – Current year returns received as at 30 July 2017

    Individual – Electronic

    3,519,637

    3,181,571

    2,897,415

    Individual – Paper

    15,901

    10,292

    19,518

    Non-individual – Electronic

    157,811

    46,547

    43,122

    Non-individual – Paper

    5,042

    2,706

    4,099

    Self-preparer – myTax

    1,710,002

    1,594,267

    1,389,724

    Tax practitioner – Practitioner Lodgment Service (PLS)

    1,900,606

    1,616,749

    453,768

    Tax practitioner – Electronic Lodgment Service (ELS)

    49,191

     

    1,080,491

    Table 2 – Electronic returns received

    Summary

    Overall year to date returns received as at 30 July 2018

    Current year returns received as at 30 July 2018

    Comparison – current year returns received as at 30 July 2017

    Individual

    3,519,637

    3,181,571

    2,897,415

    Non-Individual

    157,811

    46,547

    43,122

    Total electronic

    3,677,448

    3,228,118

    2,940,537

    Table 3 – Paper returns received

    Summary

    Overall year to date returns received as at 30 July 2018

    Current year returns received as at 30 July 2018

    Comparison – current year returns received as at 30 July 2017

    Individual

    15,901

    10,292

    19,518

    Non-Individual

    5,042

    2,706

    4,099

    Total paper

    20,943

    12,998

    23,617

    Tax refunds – All Returns as at 30 July 2018

    Refunds issued 2,250,626

    Refunds issued ($m) $5,724m

    Average refund ($) $2,543

    Tax refunds – 2017-18 Individual Income Tax Returns as at 30 July 2018

    Refunds issued 1,983,872

    Refunds issued ($m) $4,345m

    Average refund ($) $2,190

    Telephony service standard performance as at close of business 30 July 2018

    From 1 July 2018 we have received approximately 833,277 inbound calls to general queues and 126,941 to tax practitioner queues and achieved service commitments of:

    • General taxpayer calls – 86% (YTD) of calls are answered within 5 minutes
    • Tax practitioner calls – 92% (YTD) of calls are answered within 2 minutes

    Commonwealth Superannuation Pension tax offset

    To support the new way defined benefit income is taxed, we have made changes to payment summaries and created a new Label 7M in the income tax return for individuals.

    Superannuation providers will no longer pre-populate payment summaries with your client's tax offset entitlement on an untaxed element. This is because superannuation providers are unable to determine whether your client is in excess of their cap, as they may have multiple income streams from different providers. You will now need to calculate the tax offset your client is entitled to and include this amount at Label T2.

    An article titled ‘Defined benefit income’ in the Tax Professional’s newsroom will explain how changes to the taxation of defined benefit income may affect the way you prepare your clients’ income tax returns. The article will also explain how our defined benefit income cap tool can help.


    Tips and links

    Use the Single Touch Payroll employer reporting guideline to find out what needs to be reported, rules for reporting and how to make corrections.

    You can subscribe to receive daily email updates from the ATO.

    Next meeting

    The next meeting is scheduled for Tuesday, 14 August 2018 commencing at 10:00am (AEST).

    All future meetings held from this date will be on a fortnightly basis.

    Last modified: 01 Aug 2018QC 56379