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  • Your notice of assessment

    The notice of assessment we send you is an itemised account of the amount of tax you owe on your taxable income. It also contains other details that are not part of the assessment, such as the amount of credit you have for tax already paid during the income year.

    When you receive your notice of assessment, you should check everything is correct.

    Generally, unless you are using electronic funds transfer (EFT), the bottom section of your notice of assessment will be either your refund cheque or, if you owe tax, your payment advice.

    In some cases, we will send you a statement of account with your notice of assessment. If we do, we will attach your refund cheque or your payment advice to your statement of account.

    We will send you a statement of account with your notice of assessment when your account balance is different to the outcome of your assessment. This can happen when:

    • you incurred a penalty or general interest charge
    • we credited interest amounts to you
    • we offset credits to other tax debts (or debts you have with other government agencies)
    • you have an account opening balance that is not zero
    • you lodged returns for multiple financial years on the same day.

    Under the law, we have a period of time to review your tax return. During this time, we may increase or decrease the amount of tax payable (or refundable) on your initial notice of assessment. This review period is normally two years, but, in certain circumstances, it can be four years.

    Find out about:

    See also:

    Automatic assessments – refund of franking credits

    During tax time 2019, we will provide an automatic notice of assessment to a number of individuals. These people won't need to submit a refund of franking credits form.

    This follows the successful pilot during 2017 and 2018.

    Who will receive an automatic assessment?

    Approximately 80,000 individuals, who are aged over 60 years and held the same shares for the last two years, will be asked to participate.

    Tax agent clients are not included.

    How it works

    Each year, information from share registries and other third-parties is reported and processed on our systems. This information is used for pre-filling tax returns, refund of franking credits forms, and other data-matching activities.

    When we receive the information we expect, based on your previous share holdings, we will calculate and issue you a notice of assessment, and deposit your refund directly into your bank account.

    We expect to start issuing assessments from mid-July, with most expected to be finalised by late-September. If you are one of the 80,000 individuals, we will send you a letter in mid-June detailing the process and indicate when you should expect your assessment.

      Last modified: 12 Jun 2019QC 16302