Are you planning to leave Australia? Ensure a smooth departure by learning how to lodge your tax return early.
Are you wondering if you qualify for early lodgement? If you’re leaving Australia permanently before the end of the income year, you might be eligible. You will be required to use the paper tax return form to file early. 50 business days are the time of processing for early lodgments. The ATO only accepts early lodgment of tax returns for individuals prior to the end of the income year if you are either:
You will be required to file your tax return during the normal lodgment period (1 July to 31 October) if you:
It’s a simple process with a 50 business day processing time. After meeting the eligibility criteria outlined above, you have to:
Your notice of assessment will be sent to the address you provide. If you think that you are not in good financial condition, you can review your eligibility request for priority processing.
If you establish a link between ATO and your myGov account, you can file your tax return online with myTax from overseas. Ensure you have overseas accessible sign-in options and an Australian bank account for any refunds.
A tax agent is a qualified agent who helps you prepare and file your tax return. You can use the services of a tax agent. It is necessary to seek help from a tax agent who is registered with the Tax Practitioners Board (TPB). When you use a registered tax agent, they can ensure to:
When you choose an agent, you must discuss the services they offer so you both know what to expect.
Most tax agents have a special lodgment program and can file returns for their clients after the 31 October deadline. The due date for your tax return will be based on your personal situation and when you involve your tax agent. You need to contact your tax agent for suggestions about your situation. If you are seeking help from a tax agent for the first time, you should get in touch with them before 31 October to be part of their lodgment due dates.
Now that you know the eligibility to lodge a tax return before you leave Australia and the method of lodging a tax return. Apart from this, you can seek help from Reliable Melbourne Accountants.
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