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Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
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Processing

I'm new

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Replies 1

Hi, I understand that it takes 2 weeks to process you're tax returns but my returns has been sitting at "balancing account" for the past 16 business days, is that normal?
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Hi @Gert7910 

 

When the status of your tax return states In progress – Balancing account, we are balancing the result of your tax return with your accounts with us and other Australian Government agencies, and calculating the amount we will refund or you need to pay. We will contact you if we need more information.

 

For more information on the processing of returns please visit this thread it has information on processing times, status changes and delays to refunds.

 

All the best!

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @Gert7910 

 

When the status of your tax return states In progress – Balancing account, we are balancing the result of your tax return with your accounts with us and other Australian Government agencies, and calculating the amount we will refund or you need to pay. We will contact you if we need more information.

 

For more information on the processing of returns please visit this thread it has information on processing times, status changes and delays to refunds.

 

All the best!