Taxpayers with uncomplicated financial affairs has been given the green light to lodge their tax returns by the ATO. The data the ATO collects from employers, banks, private health insurers, share registries and other institutions have now been prefilled for taxpayers’ convenience. Due to some changes in the 2022-23 tax return including the removal of the LMITO and a new revised fixed rate method for WFH deductions, taxpayers may receive a smaller than usual tax return, or in some cases may have a tax payable.
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