MEMBER 173 writes:
"A warning about information included in ATO pre-filling reports. It is not reliable. Two instances this week of incorrect information in pre-filling reports relating to interest received by two taxpayers.
One received interest from a term deposit on 1 July 2008 and again on 1 July 2009. The ATO pre-filling report included both amounts of interest in the 2008 year.
The other taxpayer received two amounts of interest in the 2008 year and had tax withheld from both payments. The ATO pre-filling report included the total gross interest of the two payments but only one of the withheld amounts was included.
I don't know if these were errors by the reporting institutions or ATO problems but either way there are clearly inaccuracies in pre-filling information. If interest is not correct, what other areas are also wrong?
I wonder what this will do to individuals who choose to rely on ATO information when optional tax returns are introduced? No doubt the Government will warn taxpayers the information provided by the ATO cannot be relied on and they should take that into account when opting out of preparing their own returns."