If you lodge your own tax return, time is running out to lodge it by the 31 October deadline. If you are not one of the millions who have already lodged it is important to get in quick and avoid the last minute rush or late penalties.

If you have earned over $18,200 in the last financial year or had tax taken out of your pay, you are required to lodge a tax return.

The ATOs Assistant Commissioner Graham Whyte says the free, online lodgement service, myTax is the easiest way to lodge, and is available on your smartphone, tablet or PC.

“In most cases, you only need to review the pre-filled information, add your deductions and click submit, completing your return in under ten minutes.

“Over two million people have already lodged their returns online, which is an increase of seven per cent from this time last year,” said Mr Whyte.

An added benefit to lodging online is that most refunds are issued within 12 business days.

“With five out of six returns resulting in a refund, the sooner you complete your return, the sooner your money is back in your pocket.

“So far this year, the ATO has issued over six million refunds worth a total of over $17 billion.”

For those using a tax agent for the first time or a different tax agent to last year you will need to contact the agent before the end of October. Tax agents can lodge later than the 31 October deadline, but to qualify for their lodgement dates you need to contact them as soon as possible.

“Don’t leave it until the last minute, and give yourself peace of mind by getting it in before the deadline.”

If you are worried you will not be able to meet the deadline, contact the ATO on 13 28 61 as soon as possible to discuss your situation, or visit the ATO website for information on the progress of a tax return, and lodging online.