You have dealt with your tax returns but now it’s the waiting time over whether you’re getting a refund back! Who wouldn’t love to receive a huge refund back from the Australia government?! Everyone would love to get a refund, especially if they are in hard times but how long are you going to have to wait for these refunds? How long will it be before you manage to get a refund to you? Read on to find out a little more about tax refunds.
When Have You Filed?
First of all, if you have filed pretty quickly and well before the final deadline for your return, then it may take around two weeks for the refund to get to you. In most cases, people don’t usually wait any more than say a month at best after the return has been received and processed. However, in some cases, there might be delays. If you have filed right on the deadline as so many do, there will be a rush to get through all of these returns and it can take a little longer for the refund to be processed. You also need to know that if you have filed late, there may be additional delays because you have run over the final deadline. You hopefully will receive your tax refund pretty quickly but of course it can depend on where you file and how.
What Happens If You Do Not Receive A Refund?
There could be a number of reasons why your refund hasn’t reached you. It could be that if you’ve chosen to receive the refund via check, it will take additional time to process the check and to have it sent out to you too. However, usually if you choose bank transfer the money can be deposited straight into your account within a few hours. If you receive no refund whatsoever then it might be down to the fact you own money to the Australian government. If that is the case, you might find the amount is less than you thought; the entire amount may be used to pay off old debts or taxes owed.
In most cases, refunds are issued pretty quickly after the government has received and processed your return. However, if you have been waiting quite a long time and it’s month later with no sign of a refund, you could enquire to the government over the refund. It might be there has been a delay because of the amount of tax returns they have to go through. Again, it could simply be you aren’t entitled to any refund. You should always double check your returns before assuming the government has taken your money.
Enjoy Your Tax Refund
Hopefully you will receive your refund within a fairly short period of time of filing your return and once you receive it, there are a dozen different things for you to use the money on. You can treat the family or just put the money towards paying off bills or debts. You hopefully can enjoy the money and maybe it will allow you do a little more. To find out more about filing your tax return and refund delays, check out www.taxreturn247.com.au