Navigating the 2022-23 Tax Season - A Message from the CEO
The 2022-23 financial year presented numerous challenges. However, our unwavering commitment is to assist and provide support to our valued members. We remain dedicated to offering guidance and assistance.
We believe that the following information will be beneficial to you and your clients:
- This year, it's important to inform your clients that their income tax assessment may differ from previous years. They might receive a lower refund than anticipated or even a tax bill. There are several reasons for this change, including the conclusion of the low- and middle-income tax offset (LMITO) and the resumption of using credits or refunds to pay off previously suspended debts. We recommend discussing these factors with your clients before lodging their tax returns to ensure their expectations are managed appropriately.
- The ATO has issued a statement to tax practitioners regarding modifications to contact centre services that will affect both agents and taxpayers during this tax season. The statement acknowledges the current high volume of processing work, which impacts you and your clients. To address this, the ATO will temporarily reallocate staff to prioritise processing lodgements and digital inquiries. Agents are encouraged to use online services instead of calling the ATO, especially for checking the progress of tax returns.
- During this tax season, it is important to be vigilant against scammers who may target you and your clients. Educating your clients about warning signs, particularly in relation to ATO impersonation scams, can help protect them from falling victim to fraudulent activities. Remind them about safeguarding their personal information and provide guidance on how to verify or report any suspicious scams they encounter.
Professor Andrew Conway FIPA FFA
CEO, IPA Group