How long does tax refund take?
People ask how fast do I get my tax refund? Let us explain how ATO process your tax return and what factors may cause the delay of your refund.
Tax refunds should be processed within the ATO service standard of 30 days but this is not guaranteed as occasionally they are not processed within the actual service standard by the ATO. However, we are seeing some processed as quickly as 5 days. However, no tax agent should guarantee fast processing, as ultimately it is determined by the processes and systems of the ATO.
Factors which may delay your refund arriving are:
- Wrong EFT details of your bank account
- Changes in names without advising ATO
- Omission of income
- Suspected overstatement of deductions
- Cross-checking of declaration with other government agencies such as Child Support or Centrelink for family benefits
You can easily check on the progress of your tax refund by contacting your tax agent or the ATO on 132861. Have an old notice of assessment handy to prove your identity. But before you do make sure 3 weeks have passed since it was lodged.