Amend your previously lodged Income Tax Return

Did you forget to include something in your tax return, or did you not get the refund you were expecting? Don’t worry, you typically have two years from the date of assessment to lodge an amendment.

What do I do if I made a mistake?

The Australian Taxation Office (ATO) recognises that there are times when you make mistakes. Life is busy, and there are so many things to remember, it’s easy to make a simple mistake in your return. There are a number of common mistakes people make when filling out a tax return, such as forgetting to include:

income such as:

  • interest from a bank account, or income from a previous job
  • deductions such as motor vehicle, or rental property expenses
  • income from sources such as trusts, investments, and capital gains
  • additional information relating to the Medicare levy or Medicare levy surcharge

There are many reasons why you may need to fix a mistake in an income tax return you have already lodged. This is called lodging an amendment. The ATO know there will be times you will need to make a change because your circumstances have changed, and some people who did not reveal all their income or incorrectly claimed deductions will want to get their tax affairs in order.  Telling the tax office allows you to bring your tax affairs into order and making voluntary disclosure will limit any penalties that they may apply. The important thing is that as soon as you realise the information you have reported to them, is no longer accurate, you act to correct it.