The ATO will start full processing of 2021–22 tax returns on 7 July 2022. and expected to start paying refunds from 16 July 2022.
The ATO will aim to finalise most electronically lodged current year tax returns within 12 business days of receipt.
Note it may take up to 28 business days and we, as tax agents cannot do anything until the 28 business days have passed.
Information from employers to employees in regards to income statements / PAYG summaries
- Employers are no longer required to provide employees with a payment summary for the information you’ve reported and finalised through STP
- Employees can access their year-to-date and end-of-year income statement online through myGov or talk to us as their registered tax agent
- Income statement’ is the new term for their payment summary or group certificate
- Employees SHOULD wait until their income statement is ‘Tax ready’ before lodging their tax return or the employer confirms they have finalized it all.
- The way you get your payment summary is changing and Employee factsheet (PDF, 792KB)This link will download a file are available to help employees understand the changes.
- If employees don’t have a myGov account they can create one – see Setting up your myGov account.
Reminder also to keep in mind Taxpayers must follow three golden rules when making a deduction:
- The taxpayer must have spent the money (and not been reimbursed);
- The claim must be directly related to earning the taxpayer’s income;
- They must keep records to prove it.
