Patient taxpayers with simple affairs have been given the thumbs up to lodge their returns after more than 90 million pieces of information was pre-filled into Australian myGov accounts.

Four weeks into the new financial year, the Australian Taxation Office (ATO) said “it’s time to lodge”.

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“You’ve been patiently waiting, but now you’re good to go,” Assistant Commissioner Rob Thomson said.

“Whether you lodge using a registered tax agent or lodge yourself through myTax, pre-fill information will now be available.”

Thomson said taxpayers should check that pre-populated information from employers, banks, government agencies and private health insurers is accurate.

They then need to work out what is missing and calculate any deductions they are entitled to.

“Don’t forget that you need to include all sources of income in your tax return,” Thomson said.

“This includes side-hustles, linked income from providing ride sourcing services or selling services via an app.

“Remember, the ATO has 40 industry and occupation specific guides to assist you in what you can claim and what records are required to prove it.”

Australians can file their tax returns from July 1, but experts suggest not getting twisted up in that date.

That is because you want to make sure your document is complete and accurate before you hit the lodge button, to avoid a follow-up call from the ATO.

CPA Australia tax lead Jenny Wong said it is not uncommon for early lodgers to have to amend their returns later, so holding fire can save you in the long run.

“Cost-of-living pressures could mean some people are eager to lodge their tax return as quickly as possible to access a refund, but it’s important to be patient, gather your evidence and claim everything you are entitled to,” Wong said.

“Firing the starting pistol on your tax return too quickly means you could end up shooting yourself in the foot.”

What can I claim?

Deductions must be related to purchases made before June 30 if you intend to claim them in this tax return.

What you can claim will depend on what you do for work. The ATO and accountants know the difference.

“It is important that taxpayers take reasonable care when lodging, as penalties may apply where people have not taken reasonable care and increase when they are reckless or intentionally provide false information,” Thomson said.

More than $2.2 billion in penalties were dished out to taxpayers who failed to comply with their obligations in 2023-2024.

When is the cut-off to lodge my tax return?

October 31 is the deadline for Australians lodging their return themselves.

For those using the services of a registered tax agent, you have more time — until May the following year.

But make sure you have reached out to them and have the ball rolling before the start of November.

Will I be fined for missing the October 31 deadline?

If you fail to lodge in time, the ATO may impose penalties, starting with a $330 fine.

“We will consider your circumstances when deciding what action to take,” Thomson said.

“It is important that taxpayers take reasonable care when lodging as penalties may apply where people have not taken reasonable care and increase when they are reckless or intentionally provide false information.

“Our preferred approach is to work with taxpayers to help them meet their tax obligations.”

When will I get my tax refund?

Most refunds are issued within two weeks, but the process can take longer if the ATO has queries.

“This process cannot be sped up, even if you call us,” Thomson said.

“You can keep track of your return by logging into the ATO app or ATO online services through myGov.

Paper tax returns can take up to 50 days to process.

Wong said there is a misconception that lodging your return straight away puts you at the front of the queue for a refund, “but it’s not that simple”.

“Take your time, get your facts right, and lodge a full and comprehensive claim when you’re ready,” she said.