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With tax season 2024 over and done with, it’s a little late to get a quick refund for 2024 – for this to happen you should have lodged your tax return in mid-July. But, you can prepare for the next tax season and take these simple steps to ensure that everything goes smoothly so your 2025 refund is paid as quickly as possible. 

The ATO says that they aim to process most tax returns in two weeks but in practice many returns are actually processed far quicker. Would you believe in as little as three days! 

But there are certain things to look out for which can significantly delay the processing of your return. Get these things wrong and you could be looking at a lengthy, possibly indefinite, delay.

Don’t forget the basics

Lots of tax returns get held up by the ATO because taxpayers have made simple mistakes like these:

Change of name or address 

If your name or address has changed, let  the ATO know before you lodge your return. If you lodge under different details, the ATO won’t be able to match it with your Tax File Number. And that means… delays!

Missing bank account details

The ATO doesn’t send out refund cheques – it’s done electronically – so you need to include your bank details on your return. No bank details, no refund!

Spelling mistakes 

If you’ve added an extra letter to a key field such as your name, that slip of the keyboard could consign your return to a black-hole while the ATO tries to manually match your details. 

Don’t embellish deductions

You can only claim what you’ve spent, so don’t inflate deductions to get a bigger refund. Only claim for costs you can prove you spent, by producing an invoice, receipt or bank statement for instance.

Self-lodgers using the ATO’s myTax program are monitored as they prepare their return by the ATO’s computer systems to ensure they’re not over-claiming. The ATO’s computer systems compare your claims to those of others like you and if your claim rings alarm bells, myTax will give you a stern warning inviting you to rethink that deduction. 

Be aware: if you ignore that message you could be headed for an audit.

If your deduction claims are found to be incorrect, it can delay your return. You’ll be required to repay the tax avoided, plus pay interest.  If the ATO believes that you have acted carelessly, a penalty between 25% and 95% of the tax avoided may also be charged.

Never rely on pre-filled data

These days, with the push of a button, you can pre-fill lots of your income information straight from the ATO’s systems. Take care though and don’t assume that income data is correct or complete. Always use your own information as the key source data. 

Be aware: if you omit income and get questioned by the ATO, the legal burden will be on you, even though you’ve taken the information straight from the ATO’s pre-filled data.

Will a tax agent make the process smoother?

Yes! You can use a tax accountant or tax agent like H&R Block. And with more than 450 offices nationwide, it's easy to find your nearest H&R Block office. 

Important: make sure your accountant is registered with the Tax Practitioners Board.

To make the process as convenient and hassle-free as possible, it's important to come prepared to your appointment. This tax checklist to maximise deductions lists all the documents you need to get your taxes done quickly and accurately. 

Alternatively, you can lodge yourself through the government’s online portal myTax. 

Important: on the surface, you may think DIY lodging online is quicker, but for most people, this isn’t the case. Once you add in the time to collate your information, look up your deductions and check to make sure you haven't made any mistakes, the process is longer and more convoluted than using an agent. 

Bottom line

Most Australians find it far less stressful to use the services of a professional to complete their tax return. This ensures the return will be accurate and complete, which means less chance of any delays in processing your return. 

And remember,  an experienced agent is usually very good at sniffing out obscure tax deductions you didn’t know you could claim... and these could possibly offset the cost of using a tax agent. 

Go deeper:

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Financial Disclaimer

The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions. Any opinions expressed within an article are those of the author and do not specifically reflect the views of Compare Club Australia Pty Ltd.