Get it right this tax time: don’t lodge your return too early
As tempting as it may be to lodge your tax return on July 1st—especially if you're hoping for a refund or just want to tick it off your to-do list—the Australian Taxation Office (ATO) is urging caution.
Early Lodgement = Higher Risk of Mistakes
Taxpayers lodging in early July are twice as likely to make errors.
In 2024, over 140,000 early lodgers had to amend their tax returns or had them corrected by the ATO.
Common issues include undeclared income and missing details.
Why the ATO Recommends Waiting Until Late July
Lodging later allows:
Pre-fill data to become available from:
Employers
Banks
Government agencies (e.g., Centrelink)
Health funds
Most of this information is finalised by the end of July.
Some data, like trust or partnership distributions, may not be available until even later.
Common Mistakes Made by Early Lodgers
Forgetting to include:
Bank interest
Dividend income
Government payments
Health insurance details
How to Prepare for Lodging Your Return
While waiting, the ATO recommends you:
Update your contact and bank details to avoid refund delays.
Gather all necessary documents, including:
Receipts
Work-related diaries
Private health insurance info
Review ATO occupation-specific guides to understand what deductions you're entitled to claim.
Check Pre-Fill Data Availability
Use the ATO’s online “Pre-fill availability” tool to see when your data will be ready from:
Government agencies
Health funds
Financial institutions
Employers and companies
Make sure your income statement is marked “Tax Ready” before lodging.
What You Should Know About Pre-Fill Data
You can’t remove pre-filled data related to government benefits (e.g., Jobseeker, Age Pension).
These fields are considered “high certainty data”.
If you notice an error:
Contact the relevant organisation.
Ensure they send corrected data to the ATO.
Made a Mistake? You Can Fix It
If you’ve already lodged and realise there’s an error:
You can submit an amendment online via myGov, or
Speak to your registered tax agent for help.
Final Advice
Lodging your tax return early isn’t always the best move. Waiting a few weeks could save you the hassle of amendments and delays. Take the time to get it right—the ATO is watching, but they’re also here to help.