07/08 Tax returns?

Question

I have heard that the ATO won't start processing lodged returns until around the 10th July even if lodged on the 1st and that they won't start sending refunds until the 14th. Does anyone know if this is correct. Has anyone who lodged already received theirs back yet?

If it's true, why would they do this and just sit on lodged returns allowing the to bank up straight away rather than start processing imediately? I ask this as I lodged mine on 1st July in the hopes of getting a faster return.

Thanks

Answer 1

Yes, it's true. They say they're doing a big systems maintenance/overhaul job until 9 July and won't start processing returns until after they've done it. I'm a tax agent and that's what I know from what they told me when I rang them last week. Hopefully they'll have their new systems operating on full throttle to process the backlog because I'm waiting for my fees to be deducted from tax refunds. Don't you just love their timing?

Cheers :)