It can be frightening to realise you made a mistake in your tax returns after you’ve already submitted them, but luckily there are ways to correct your mistake!
Individuals are able to lodge an amendment through their myGov account by selecting ‘ATO online services’ and then ‘manage tax returns’. Importantly, you should wait until your original tax return or any other amendments have been processed before you submit a consecutive amendment.
The online amendment will take 4 weeks to be processed once it has been lodged. But if you make an amendment in writing, then it can take up to 10 weeks to process.
Your registered tax agent is also able to amend your tax returns.
Updates for both your tax returns and amendments will be visible on the myGov website. These will alert you of the progress being made and at the end will show the amount of money issued for your claim.
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