The Australian Taxation Office will have paid $1.2 billion into Australians’ accounts by the end of Friday 12 July, despite ongoing issues with the government’s myGov tax portal.
An ATO spokesperson told Yahoo Finance the myGov outage, which started at 10am this morning, will not have any impact on the record number of Australians who have already lodged their tax returns.
However, if you’re attempting to lodge your return, you’re return will be delayed until you can complete it.
The ATO has processed more than 390,000 refunds, with $882 million paid into taxpayers accounts, as of Friday morning.
“A further 110,000 refunds worth $292 million will be paid into accounts this afternoon. Today, a total of 500,000 refunds worth $1.2 billion will be paid into peoples’ bank accounts,” the spokesperson said.
“We’re working on the issue and will advise through social media and our other online channels as updates become available.”
Earlier this week Treasurer Josh Frydenberg celebrated the record number of Australians who had filed their tax returns, following the successful passage of the Coalition’s $158 billion tax cut package.
“The ATO has received over 1 million tax returns for the 18/19 year!” Frydenberg said on Twitter.
“As of this morning over 1.1 million tax returns have been lodged compared to around 600,000 at the same time last year.”
The @ato_gov_au has received over 1 million tax returns for the 18/19 year!— Josh Frydenberg (@JoshFrydenberg) July 11, 2019
As of this morning over 1.1 million tax returns have been lodged compared to around 600,000 at the same time last year. Despite Labor’s opposition, Australians have now got the tax cuts they voted for!
The tax package promised the 4.5 million Australians earning between $48,000 and $90,000 would receive an extra $1,080 when they lodged their tax returns, with another 5.5 million Australians to receive some form of tax relief up to $1,080.
Frydenberg encouraged Australians to lodge early, explaining that those who had lodged would receive their $1,080 by today.
“The ATO (Australian Tax Office) staff are all ready to move it through the system and people will get it next week,” Frydenberg told Sky News last Tuesday.
“Once they put in their tax returns, if they put in their tax returns next week, they'll get it just days after.”
However, inundated with calls and tax returns, the ATO urged Australians to consider holding off.
“While there is no need to delay lodging because of the proposed law, we generally encourage taxpayers to wait a few weeks before lodging so that we can serve them better,” the ATO spokesperson said.
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