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Tax refund versus tax return?

Published on 01 Apr 07 by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE

In Australia taxpayers are required under the Federal Income Tax to lodge an annual return. In recent years electronic lodgement as an alternative to paper has become available for those who wish to use it. Personal taxpayers can claim deductions for legitimate expenses linked to earning their income. Their main source of deductions is work related expenses. This paper investigates whether taxpayers would prefer to forego the time and hassle involved in lodging an annual return by giving up their entitlement to claim these deductions. For many taxpayers the ability to claim deductions often ensures they receive a refund of overpaid tax. Qualitative research conducted by diverse stakeholders over many years has revealed that for Australians, the ability to claim deductions is seen as giving them control over their own tax affairs, and they accept that the receipt of their refund is a return of their own money.

Author profile:

Cynthia Coleman CTA
Cynthis is the Editor of Australian Tax Forum. Current at 01 December 2013 Click here to expand/collapse more articles by Cynthia COLEMAN.
 
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