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Question about the Tax return status - changes from CR to DR

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Newbie

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Hello,

This is the first time I am filing taxes in Australia and it was a straight forward process as I don't have anything major to report only being here for 6 months out of the 12 month period. When I checked my status this morning this is what I see and it is confusing:

 

11-Sep-2017
Effective date:14-Sep-2017
Description:

EFT refund for Income Tax for the period from 01 Jul 16 to 30 Jun 17

Amount:$XXX DR
Balance:$0.00
 
Transaction item 2.
Processed date:07-Sep-2017
Effective date:14-Sep-2017
Description:

Tax return Individuals - Income Tax for the period from 01 Jul 16 to 30 Jun 17

Amount:$XXX CR
Balance:$XXX CR
 
Yesterday when I checked it was showing the transation item 2 which showed an amount as CR and this morning when I checked there was another line in there which shows EFT refund but shows DR? Looking at what DR means it says I owe money? Any help will be appreciated.
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Best answer

ATO Certified

Devotee

Replies 5

Hi @giri26


The CR is the credit applied to the account because your return was being processed, Once its finalised it will change to a DR  because the refund has an effective date and the account will go back to $0.00 because the refund has been paid

Mine looked the same

Amount: $xxx DR - This appeared the day I received my return ( Effective date, the date you will receive you refund)

Balance: $0.00 - Because refund has been paid
 
Hope this helps
 
Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time
8 REPLIES 8

Best answer

ATO Certified

Devotee

Replies 5

Hi @giri26


The CR is the credit applied to the account because your return was being processed, Once its finalised it will change to a DR  because the refund has an effective date and the account will go back to $0.00 because the refund has been paid

Mine looked the same

Amount: $xxx DR - This appeared the day I received my return ( Effective date, the date you will receive you refund)

Balance: $0.00 - Because refund has been paid
 
Hope this helps
 
Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time

Superuser Registered Tax Practitioner

Replies 0

Hi giri26

 

It means your refund will be in your bank account on September 14th Smiley Happy

 

One Stop tax
Tax Return and Taxback Specialist
www.onestoptax.com.au

 

Newbie

Replies 3

Hi @Tracey74 and @onestoptax

 

Thanks for your response. I am little relieved now. Just got little confused with the abbreviations used on the ATO website. 

Newbie

Replies 1

Hey just wondering what the outcome was with this did u receive your money or did you owe I currently have the same thing on mine

Community Support

Replies 0

Hi @Becg,


If there is a credit means that your tax account is in credit. Then the Debit is when the amount is sent to your bank account.  Which reduces your tax account to zero.


Hope this makes sense.


KylieS
 

I'm new

Replies 0

This got me too!!

My refund of $1600 changed status from CR to DR so I thought I owed $1600!

(When you hover over DR it says "this means you owe us money")

What's the go with that?? Ato people below saying it means it's been sent to your bank? 

Confusing and unclear.

 

Hoping it will be in my bank on Tuesday and I don't owe lol

I'm new

Replies 0

It does say "this means you owe us money!" when you click on the question mark beside DR

Very frustrating!! So we don't owe money then?? ATO sort your abbreviations out!

Newbie

Replies 0

Hi just wondering did you owe money ?
Mine has showed up the same
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