ATO Community

Balancing account.

Ask a question

Newbie

Views 87

Replies 3

To whom it may concern,

 

                  The ATO suggests to us that if we lodge our return on line we would get a faster assessment than if we lodge a hard copy. From my experience this is only half true. I lodged my tax return and within a week  I got an assessment. However and this were it gets interesting, I decided to lodge an amendment and from my memory this was the 10th of this month. I still have not received a revised assessment. When I go into my MyGov account, I read balancing account. Why should a simple amendment take far longer than lodging the original tax return online. 

 

Karatt

 

 

 

 

1 ACCEPTED SOLUTION

Accepted Solutions

Best answer

Community Manager

Replies 1

Hi @karatt,

 

Thanks for your post.

 

Balancing account is where we have the result of your return and we're calculating your refund  or bill. Amending tax returns that are lodged online are generally processed within 4 weeks and up to 10 weeks for amendments in writing.

 

Thanks

 

KylieS

 

 

3 REPLIES 3

Best answer

Community Manager

Replies 1

Hi @karatt,

 

Thanks for your post.

 

Balancing account is where we have the result of your return and we're calculating your refund  or bill. Amending tax returns that are lodged online are generally processed within 4 weeks and up to 10 weeks for amendments in writing.

 

Thanks

 

KylieS

 

 

Newbie

Replies 0

Dear Kylie,

 

              Thank you for your reply  but it is not exactly correct. You stated that balancing my account means that you are calculating my refund. With due respect this is misleading because when I lodged my original return, I did get this message balancing my account but I did not get a refund but I big bill!

 

Karatt

Community Manager

Replies 0

Hi Karatt,

 

You are exactly correct we are calculating your refund or bill. 

 

I will correct my post.

 

Thanks for pointing it out.

 

KylieS

Top Solution Authors