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What does "balancing account" mean in myGov account?

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Newbie

Views 123711

Replies 4

Hi there,
I submitted my returns on 17 July; today I am noticing status changed to "In Progress" and Outcome "Balancing account"...
May I know what does it mean and how many days it may take from now, to get the return finalised and / or credited to my account?
Many thanks...

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ATO Certified Response

Devotee

Replies 3

Hi there sreza

https://www.ato.gov.au/Individuals/Lodging-your-tax-return/Tracking-your-refund-or-fixing-a-mistake/

if we take a look there you can see

In progress – Balancing account
We are balancing the result of processing your return with your tax account(s) and calculating the amount we need to refund or you need to pay.

it looks like your in the final stages of processing.

Not long now for your ourcome.

If you look under accounts in your myGov account it might give you abit more info.

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time.
4 REPLIES 4
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Most helpful response

ATO Certified Response

Devotee

Replies 3

Hi there sreza

https://www.ato.gov.au/Individuals/Lodging-your-tax-return/Tracking-your-refund-or-fixing-a-mistake/

if we take a look there you can see

In progress – Balancing account
We are balancing the result of processing your return with your tax account(s) and calculating the amount we need to refund or you need to pay.

it looks like your in the final stages of processing.

Not long now for your ourcome.

If you look under accounts in your myGov account it might give you abit more info.

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time.
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Newbie

Replies 0

Thank you very much!
Much appreciated...
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Newbie

Replies 1

How long should we see "balancing account"? 

 

If this means the lodgement is in the final stages should my status still be showing this for over a week? (I also submitted in early July).

 

Given that most returns take around two weeks, which has been the case for me in previous years I'm now up to 3 weeks and counting and has me concerned.

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Devotee

Replies 0

Hey Hubbo

 

Three weeks is still within normal processing and there is no need for concern.

 

During early lodgement our workload is high so processing slows down alittle for everyone.

This is also seen at the end when  some people wait till the due date to lodge.

 

If we take more than a month you can call us and we'll look into it for you.

Other than that please make sure your contact details are up to date so if wee need to contact you we can.

 

That's the best way to prevent delays.

 

 

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time.