Experts Reveal the Best Time to Lodge Your Tax Return
- admin928749
- Jul 1
- 2 min read
It’s July 1 — a new financial year has begun, and for many Australians, that means one thing: tax refunds are coming!
But while it might be tempting to jump online and lodge your return today, tax experts say patience is key if you want to avoid mistakes and get your refund faster.
So, when is the best time to lodge?
According to tax pros, mid-July to mid-August is your sweet spot.
Mark Chapman from H&R Block says the first week of July is basically a write-off. “The ATO doesn’t start paying refunds until about a week into July, no matter how early you lodge,” he told 9News. So lodging in the first few days won’t speed things up.
If you’re expecting a refund, waiting a couple of weeks gives the ATO time to pre-fill most of your income details — like wages, interest, and dividends — which can help you avoid errors.
But if you think you’ll owe the ATO money, Chapman suggests you hold off and lodge closer to the October 31 deadline. That gives you more time to save up and prepare for the bill.
Depends on your income too
Susan Franks from Chartered Accountants ANZ says your income type matters:
Just a salary or bank interest? Lodging in August is probably safe.
Got dividend income too? Wait until late September.
Investments in a unit trust? Better to wait until October — just don’t miss the Oct 31 deadline.
Don’t rush it!
Jenny Wong from CPA Australia warns against jumping the gun. A lot of the data the ATO uses to pre-fill your return isn’t available until mid-July.
Yes, you can enter the info yourself, but get it wrong and it’s a headache: you’ll need to amend your return, and there’s a risk of interest and penalties.
And it’s not just financial info. Chapman says he’s seen people miss out on refunds because of small slip-ups — like spelling their name wrong or typing the wrong bank account number.
“These simple mistakes can send your return into a black hole in the ATO system for weeks,” he says.
Important dates to remember:
October 31: Deadline to lodge your tax return if you’re doing it yourself.
Using a tax agent? You must appoint them by October 31 too — even if they’ll lodge later.
Take your time, let the system catch up, double-check your info — and don’t leave it too late. A little patience now could mean a smoother refund later!
More updates to come on AusNewsLanka.
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