Tax can be confusing!
According to experts, getting a handle on the subject of tax and tax return can be very difficult for most businesses. Don’t worry we are here to help you get insights into everything that you need to know with your tax return.
Here, we will take a look at what the Australian fiscal year looks like and also outline some of the significant dates and deadlines during a financial year.
When is tax season in Australia?
In Australia, the tax season runs anything from July 1st to October 31st for individual. For businesses, they have been directed by the ATO to submit monthly or quarterly activity statement all year round.
15 May 2022
May 15th 2022 is typically the deadline for the submission of all tax return if you are an individual and you have indicated interest to use a registered tax agent for your annual tax return. In general, the registered tax agent will take care of everything on your behalf.
30 June 2022
Official end of the 2022 fiscal year.
1 July 2022
This is when the ATO will begin to process all tax returns submitted to it.
July 2022 is the month dedicated for the issue of rebate from the previous year. While the timing to tackle the issue of rebate can differ slightly every year, but refunds are typically issued in July.
31 October 2022
This is the deadline for filing your tax return. However, you can always request for an extension instead of lodging an incomplete tax return.
Ready to file your tax return and claim your Australian tax refund?
Are you ready to file your tax return now? Then reach us for immediate and prompt assistance. We have experience and professional accountants that will help you claim your maximum tax refund.