Many problems can occur when processing activity statements and tax returns which can lead to a delay in the ATO issuing refunds.
However, these problems are often caused by small issues and can be easily avoided. Here is a list of tips to help minimise some of the issues that can prevent a speedy tax refund:
Keep personal details, such as postal address, bank details and authorised contacts updated
Lodge all outstanding activity statements as the ATO are unable to process the refund until they know the extent of the credit
Keep good records and hold onto receipts
Keep the statement clean. Do not write notes outside the space provided, do not use symbols and show whole dollar amounts only
Do not double up by lodging both online and in person
Refer to a specialist if the process is complex