Do I need to file a tax return?€ This is a common question a tax agent comes across end of every financial year. Almost all people either resident or non-resident to claim return of over duty paid to the government. There are certain criteria one must meet for filing return.
Who can lodge tax return?
People who have paid any type of tax to the Government of Australia and feel that they have been over-charged can claim a return of the overpaid money.
For residents of Australia
Tax charged under PAYG system
If you are a resident of Australia and have paid tax under the installment or pay as you go (PAYG) system can claim over paid duty. Residents whose (a part of) payment has been withheld for paying tax are also eligible for returns.
Seniors and pensioners
People who receive pension and enjoys exemption or discount on tax amount can also lodge tax returns. If you fall in this category of people you have look for certain criteria for finding the exact rebate on tax amount you are eligible for. It also depends on the condition whether you have a spouse or not.
People with low income
Certain category of people with low income are also entitled to receive tax return given the person fulfills other requirements. You can check the ATO’s website for further information about the criteria and income limit.
Other criteria for lodging return
€People who run a business and incurred a loss in the preceding year.
€People over 60 years of age and recipient of Australian superannuation money. The superannuation must involve an untaxed component.
€Performing artists, inventors, authors, musician, sportsperson and production associates can also get a tax return.
€Some people forget to quote their assessment file number and as a result are charged extra tax. Such people can also submit request for tax returns.
€Do you make contribution to a retirement saving account or superannuation fund and are entitled to a rebate in tax amount? If you fall in this category of people you can claim a return from the taxation department.
€One can also submit claim application of behalf of a deceased person whose estate you are taking care of. But you should go through the €Deceased Estate€ section on the website of the ATO.
What should you do if you don’t need to file tax return?
People who are not eligible for claim should send a non-lodgment advice to the tax return department.
How can you file return?
Tax return can be lodged via paper mode and online mode. The e-tax method is more efficient as one can get lodgment in less than 2 weeks. In case of paper mode, you have to mail filled in application form along with all the relevant documents to the tax department.
If you are not comfortable in filing return request yourself, you can also consult a registered tax agent. The Australian Taxation Office also offers a help program for people with low income