TAX TIME 2021 - 2022

30 June 2022 was the end of the financial tax year, and this is the sixth year that residences on Norfolk Island are required to file an ATO tax return. In 2016 the laws changed on Norfolk Island as new Australian Taxation Legislation was introduced to our Norfolk Island Community. During the change over many government advisors visited Norfolk Island to assist with aspects of the changes including organising ATO tax numbers and MY GOV accounts for access to the systems on the internet.

Before preparing to lodge your tax return, it can help to check out the page and remind yourself of the information which will be required. Each year there are different changes and this year I have read that these include information relating to Covid, along with other updates. It is always a challenge to remember where to enter the details on the forms. There are online ATO guides to assist if you need any assistance.

If you wish to read more information about tax time, please check out the Australian Taxation Office internet sites and follow the links for information regarding 2022 TAX TIME.

Many Income Statements will be available online via myGov.

https://www.ato.gov.au

https://www.ato.gov.au/Tax-professionals/Prepare-and-lodge/Tax-Time-2022/

I read on the ATO webpage

• We will start full processing of 2021–22 tax returns on 7 July 2022. We expect to start paying refunds from 16 July 2022.

If you need assistance completing your tax return, contact the ATO via the official web-page or seek assistance from a qualified professional taxation agency.

Please take care with illegal scams, always stay aware of personal safety and review your security.

All the best with your annual financial end of year ATO Tax returns.

Betty Matthews

July 2022
Check out the ATO Government Website

https://www.ato.gov.au/Tax-professionals/Prepare-and-lodge/Tax-Time-2022/

Key changes this tax time, what you can do to prepare, things to consider before lodging, and helpful resources.

Overview of key changes
Be aware of key changes and new measures when completing your clients' 2022 tax returns.

Prepare for tax time
To prepare for tax time, update your client list, check due dates, review security, and notify if a client isn't lodging.

• We will start full processing of 2021–22 tax returns on 7 July 2022. We expect to start paying refunds from 16 July 2022.

Before you lodge
Tips and links to help check your clients' tax returns before lodging and avoid delays.

After you lodge
We will keep you informed about the progress of your clients' tax returns and any delays.

TPSG – tax time updates
Tax Time 2022 updates with key messages from the Tax Practitioner Stewardship Group.

Forms and instructions
Search on Tax Time 2022 to access tax time publications as they are released.

Tax time toolkits
Use our educational resources to help guide conversations with your clients.