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Problems with the ATO’s online tax return service, myTax, may cost taxpayers money, says H&R Block.
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H&R Block issues warning on myTax
15 July 2014
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8 minute read
Frank Brass, regional director of H&R Block said problems with the ATO system may mean taxpayers miss out on maximising their refund and or face a delay in receiving it.
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The system, available for the first time for 2013/2014 tax returns, has experienced “continuing problems” since its launch, according to H&R Block.
“The ATO have recommended to many taxpayers that they should wait until August to lodge their myTax returns when the portal information is more complete, but people don’t want to wait that long to get their refund,” Mr Brass said.
H&R Block has also warned taxpayers that they must still verify and sign off on all information in the myTax system, even that provided by employers and Centerlink.
“It is your responsibility to ensure the accuracy of the information contained in your tax return, as you sign it to confirm the tax return is correct and complete,
and any omissions may result with the ATO amending and charging interest and penalties,” said Mr Brass.
He warned taxpayers that incomplete tax returns, even those due to incomplete information in the myTax system, may be audited by the ATO.
“If taxpayers rely on pre-filling information as the source of the income information to complete their tax return, and the information is not complete, it is the taxpayer who will be audited and required to pay back the tax refund. They may also be charged interest on the money they have incorrectly received,” Mr Brass said.
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