Announcements
Looking for information on the JobKeeper extension? Check out our answers to common questions the community has been asking.

ATO Community

Tax account

Highlighted

Newbie

Views 380

Replies 1

I am a little confused. When I checked my tax account there was an amount that said credit. A little later it said debit with the balance being 0. What does this mean please

1 ACCEPTED SOLUTION

Accepted Solutions
Highlighted

Most helpful response

Community Manager

Replies 0

Hi @Rubycat1 

 

Sounds like your income tax return has not finished processing. This generally takes around two weeks and once it is finalised, you will receive a notice of assessment that will tell you the final amount you either receive as a refund or need to pay.

As your return is processing it can go through a number of stages and amounts can change right up until it finishes processing. This is normal and we can't speculate on the outcome until it is finalised.

1 REPLY 1
Highlighted

Most helpful response

Community Manager

Replies 0

Hi @Rubycat1 

 

Sounds like your income tax return has not finished processing. This generally takes around two weeks and once it is finalised, you will receive a notice of assessment that will tell you the final amount you either receive as a refund or need to pay.

As your return is processing it can go through a number of stages and amounts can change right up until it finishes processing. This is normal and we can't speculate on the outcome until it is finalised.