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what does it mean when the status of the return says finalised and the outcome says refund?

Newbie

Views 251

Replies 2

lodged my activity statment and im confused when i will get the return for it...

processed says the 17th may and effective date says 21st may but there is nothing in the description part that says EFT. does this mean it still went through or how much longer do i have to wait before i will know outcome

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @dribz2021

 

There are situations where we are entitled to retain part, or all of, your BAS refund.

You can find more details on those at the link below.

 

Please note also that the Business Portal is now replaced by Online Services for Business.

 

Find out more about BAS refunds here.

 

RichATO

 

2 REPLIES 2

Newbie

Replies 0

I am by no means an expert in this (just starting this journey into business), but based on my experience:

1) If you have registered your bank account details you will get a deposit of the refund in there directly a few days after lodging

2) If you haven't registered your bank account details the ATO will send correspondence to request you add your bank details

 

Given the portal is down for me right now I'm going off memory here but if you go into the 'business portal' where you lodged the BAS and go the 'communications' tab and then 'history' you should probably have a letter confirming the refund and either acknowledging it will be deposited or requesting your bank details so they can deposit.

 

If you haven't set up your bank details you can also do this on the business portal (just google for instructions, it's pretty straightforward).

Most helpful response

ATO Community Support

Replies 0

Hi @dribz2021

 

There are situations where we are entitled to retain part, or all of, your BAS refund.

You can find more details on those at the link below.

 

Please note also that the Business Portal is now replaced by Online Services for Business.

 

Find out more about BAS refunds here.

 

RichATO