Tax time tips and what to know before lodging

Tax time officially begins on 1 July, with thousands of Australians preparing to lodge their returns. Hank Jongen from Services Australia recommends waiting until late July for pre-filled data to avoid errors, as 142,000 people had to correct their early returns in 2024. Important reminders include checking if you need to lodge, updating income estimates for family payments, being alert to tax scams, and reviewing new income and asset test thresholds for pensioners.

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