I lodged my tax return on 4th July via tax agent. On 8th July I noticed my account number was wrong and street address spelt wrong by my tax agent, I requested him to change and he did. On 9th July, stated balancing account till today. Issue date stating 16 July.
how long it takes the process to change from balancing account to final. Why now it takes longer the process?
i work for the ATO, i worked in the department that processes tax returns for 2.5 years.
The ATO has a safety net where tax returns that are lodged at the start of taxtime are all placed on hold until a particular date to ensure no issues in the system or flaws within the ATO Online programs and to identify common trends for reporting purposes, no refunds are processed prior to this date so the tax returns are held in "balancing account." As you have lodged within days of taxtime you would fall into the above safety net.
Not to mention your tax agent should have relayed the information here: Amend your tax return about waiting to amend your tax return until the original Notice of Assessment is issued to not cause delays and issues with the return.
I would recommend waiting the minimum 14 days from 4th July which would be 18th July then following up on the progress of your return.
All the best @godshappines
This is the standard time, it take roughly 14 days for a tax return to be processed.
I do understand that. This is unusual for my tax. Imagine from 4th July it only change to balancing account on the 9th July. From 9th July until now still the same. You don’t know what is the problem. It takes longer to process for my one. Usually for my tax within 5 days and max is 7 days. @taxfriend
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