The Australian Taxation Office (ATO) has given Australians the signal to submit their tax returns, particularly if they have “simple affairs”.

ATO assistant commissioner Rob Thomson said the ATO has pre-filled tax returns with information from most banks, employers, government agencies and private health insurers.

“Whether you lodge using a registered tax agent or lodge yourself through myTax, pre-fill information will now be available,” he said.

“You just need to ensure the amounts are correct and make sure all your assessable income is included.”

The deadline to lodge a tax return in Australia is October 31 if you are filing your own taxes, and a failure to do so can result in fines.

Tax myth

The ATO also highlighted a common but illegitimate tax myth, where people have been encouraged to make claims on items below the threshold for certain items.

‘In most cases, a bank or credit card statement on its own isn’t enough evidence to support a work-related deduction claim,” Thomson said.

“You’ll need your receipts. No proof, no deduction.”

ATO assistant commissioner Rob Thomson highlighted that you need receipts and proof to make deductions. Photo: ATO

Many people believe that if you claim work expenses that you did not incur, but you simply aren’t required to provide a receipt for expenses under $200.

The ATO can ask for proof and an explanation if the deduction is flagged.

Thomson said it is important to ensure your deductions are correct and that they haven’t changed since previous years.

‘Make sure you don’t just ‘copy and paste’ your deductions from last year, because you might be missing out on everything you’re entitled to,” Thomson said.

“Check out the guidance on our website about what you can claim.

“Most taxpayers will have their tax returns finalised within two weeks. This process can’t be sped up, even if you call us.”

If you need help

Although enlisting a registered tax agent is one option, the ATO offers a range of self-help tools for Australians.

‘We have made significant investments into our online services to provide a fast, secure, and easy way to manage most of the interactions you may have with the ATO,” Thomson said.

“You can find answers to a lot of your tax questions, as well as conduct most of your tax obligations online.”

It also offers a range of support services and helplines available for First Nations and culturally and linguistically diverse taxpayers that can be found online.