Although it may seem like a quick solution to settle this matter before leaving the country, we want to explain why it’s not advisable in most cases.
At GoTax, we receive many inquiries from clients who are leaving Australia and are considering filing an early tax return, that is, submitting their tax declaration before the end of the fiscal year.
What does Early Tax Return involve?
This process involves sending your tax return by mail to the Australian Taxation Office (ATO) before the financial year ends on June 30. While it seems straightforward, this method can become a real headache for several reasons:
- A slow and costly process
- The refund is never as expected
- Complications in resolving errors from abroad
- Risks of failing to meet legal requirements
Advice: What is the best alternative?: At GoTax, we always recommend waiting until the fiscal year ends to file your tax return online. Even if you’re no longer in Australia, you can count on our assistance to manage the tax return easily, ensuring that you take advantage of all possible deductions and comply with current regulations. With our help, you’ll avoid errors, maximize your refund, and won’t have to worry about complicated procedures from abroad.
The early tax return may seem like an attractive option, but in reality, it often brings more inconveniences than benefits. At GoTax, we’re here to guide you and ensure that your tax return is a hassle-free process, even if you’ve already left Australia. If you’re leaving Australia, make sure you have everything in order to save yourself more than one problem; visit our article on the Complete guide to managing your taxes and Superannuation before leaving Australia.
If you’re considering this option or have any questions, don’t hesitate to contact us.