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17 July 2023

Hey,


So I got 'EFT refund for Income Tax' with a processed date of 17th July and effective date of 20th July. I have not received my notice of assessment as of yet.


My question is whether it's possible to get the refund into my bank account prior to the effective date, or can it only be done after the effective date?

Does it get released to my banks institution on the processed date or the effective date? 

2,471 views
1 replies
2,471 views
1 replies

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Most helpful reply

Jimbo19845(Champion)Champion
17 July 2023

@mikeyekim20


The eft means they have processed your return .. The effective date is the day that the funds will show in your bank account mate so you will have the cash on Thursday.. The NOA should be generated then also :)

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Most helpful reply

Jimbo19845(Champion)Champion
17 July 2023

@mikeyekim20


The eft means they have processed your return .. The effective date is the day that the funds will show in your bank account mate so you will have the cash on Thursday.. The NOA should be generated then also :)

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EFT Refund - processed vs effective date? | ATO Community