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The Australian Taxation Office has warned taxpayers not to rush to lodge their tax returns but rather wait a few weeks, saying those who do try to get in quick are apt to make mistakes. ATO Assistant Commissioner Rob Thomson said Australians who lodged their tax returns on July 1 or at the start of the month were twice as likely to make mistakes. He said people who raced to get it done often forgot to include items such as interest from banks, dividend income or private health insurance details.
If these details are updated after you lodge your return, it can cause delays, the ATO warned. Those who do accidentally make a mistake can fix the errors once the initial lodgment has been processed. This can be done online through myGov or by speaking to a registered tax agent. More information regarding how to lodge your tax return can be found on the ATO’s website.
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