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HOW DO I AMEND MY TAX RETURN OR FIX A MISTAKE?

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23
May

After providing all the information to Australian Taxation Office (ATO) regarding your tax return statement, you realise that you have left out some information or made a mistake, then you can immediately request for an amendment to correct it. Some of the common mistakes are:

  • Incorrect income;
  • Eliminated income;
  • Claimed more deductions than entitled; 
  • Wrong or missing social security number; 
  • Wrong names; 
  • Filing status errors;
  • Math errors; 
  • Errors in figuring credits or deductions; 
  • Wrong bank account numbers; 
  • Forms not signed or dated;
  •  Electronic filing PIN errors.

Time Limit on Amendment:
The time limit on amendment of tax return is generally two years for individuals and small businesses, whereas for other taxpayers it is for four years. It is counted from the day after you have received the notice of assessment for the required year. But if the time limit has been overlapped then you have to lodge an objection, which sanctions extension under specific circumstances.

How to request for an Amendment:
The amendment request depends on the type of taxpayer you are:

 

Type of taxpayer Options available
 Individuals

 

  • Online at myGov (after logging in and selecting ATO services, select Tax > Income tax > View or amend returns). Regardless of how you lodged your tax return, you can request an amendment of your assessment for 2014–15 online;
  • Registered tax agent; 
  • Form: Request for amendment of income tax return for individuals; 
  • Letter.

 

Companies, sole traders, partnerships, trusts, super funds other than SMSFs
  • SBR-enabled software;
  • Business portal;
  • Sole traders can do it online myGov (after logging in and selecting ATO services, select Tax > Income tax > View or amend returns);
  • Registered tax agent;
  • Letter.
 Self-managed super funds (SMSFs

 

  • Registered tax agent;
  • You must complete a new self-managed superannuation fund annual return in full, not just the parts you want to change. You have to let the ATO know it's an amendment by ticking 'Yes' at question 5. If your amendment is for the 2010–11 or earlier income years, you must use the paper return form even if your agent lodged the original return through ELS.
Registered tax agents on behalf of any type of taxpayer

 

  •  Online using SBR-enabled software;
  • ELS form;
  • Tax Agent Portal (mail function);
  • Form: Request for amendment of income tax return lodged by tax professionals;
  • Letter.

 


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