Income tax Dates
AUG 28Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
OCT 28Provisional tax payments are due if you have a March balance date and use the ratio option.
JAN 15Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
Who gets a request for more information
You get a request for information when we want to check if you have:
- other income to tell us about
- any joint bank accounts earning interest
- expenses to claim against your income.
If you have a tax agent, you or your tax agent (if they get your mail) will receive an Income tax - request for more information.
What you need to do
Check the request for more information and tell us if:
- any information is wrong
- you received income over $200 (before tax) that is not showing on the request for more information
- you have expenses to claim against your income.
Expenses you can claim
You can claim these expenses against your income:
- the cost for someone to complete and file your income tax return or assessment. For example, any amount you paid an accountant or tax agent
- commission on interest or dividend income (but not bank fees)
- interest you paid us if you were late paying your tax
- expenses against your schedular payments
- interest on money you borrowed to invest – if the investment will produce taxable income
- premiums on loss of earnings insurance – if the benefit from the policy is taxable income.
If we do not hear from you within 45 days (or by 31 March of the following year if your tax agent has an extension of time), we'll complete your assessment on the basis that the information we have is correct.
What happens next
We finalise your end of year tax and let you know if you:
- are due a refund
- have tax to pay
- have no tax to pay and are not due a refund.
Are you due a refund?
We'll pay your refund into the bank account you gave us. We'll let you know if we need your bank account number. If you already have given us a bank account number and it needs updating, then you can do so in myIR.
We pay refunds from mid-May to the end of July when we process income tax assessments. These are processed in batches so not everyone will get theirs at the same time.
Do you have tax to pay?
Most people need to pay their tax by 7 February. If you have a tax agent, you need to pay your tax by 7 April. If you have a non-standard balance date your due date may be different.
Contact us to talk about your options if you cannot pay the full amount by the due date.