I have lodged my tax return late but did it last week. I'm confused. It's says balancing account which I understand but my Proccessed date is 24 February 2021 but the effective date is 23 November 2020. I'm wondering why the effective date 3 months earlier and does this mean something about my tax. TIA
Hi @Jenaya,
Your processed date is correct - that's the date we actually process your return.
Your effective date is also correct.
The effective date is your due date for payment.
Even if you lodge now, in February or March, if your due date was the self-preparer's due date of 31 October 2020, your payment due date is 21 November 2020 (next business day: 23 November 2020).
What this means is that you're lodging past the due date.
Keep in mind if you know you're going to lodge late, you should let us know so we can try to help you.
When you lodge late, you may be liable for late lodgment penalties, and general interest charges calculated from the original due date (in this case, 23 November 2020).
You can read more about due dates for income tax, penalties, and general interest charge on our website.
Hi @Jenaya,
Your processed date is correct - that's the date we actually process your return.
Your effective date is also correct.
The effective date is your due date for payment.
Even if you lodge now, in February or March, if your due date was the self-preparer's due date of 31 October 2020, your payment due date is 21 November 2020 (next business day: 23 November 2020).
What this means is that you're lodging past the due date.
Keep in mind if you know you're going to lodge late, you should let us know so we can try to help you.
When you lodge late, you may be liable for late lodgment penalties, and general interest charges calculated from the original due date (in this case, 23 November 2020).
You can read more about due dates for income tax, penalties, and general interest charge on our website.
Gday JenayaL
Ive just had exactly the same thing happen. I immediately amended my return and the efective date has shown up in November 21 now. Did you end up receiving your refund? How much longer did it take for you to receive your refund?
I did get my refund within the 14 days of lodging it. I understand what the response being a late lodgement and that's when it "should of been released". I think it was like a day or two before I recieved my refund that the effective date changed to the new date I received my return. I hope that helps somehow.
HI @RichMelbourne and @JenayaL,
Just a little bit of information for you both.
We do have processing stages the return goes through once it is lodged with us.
You can check under Where's my return for what each stage actually means.
If you're entitled to a refund, the effective date is usually the date we send your refund to your bank or building society.
You can check with them to find out how long it will be for them to process your refund.
If you have a tax bill, the effective date will be the date your payment is due.
24,096 views
4 replies