When we hold a refund
From 1 January 2025, the ATO has discretionary power to retain refunds for up to 90 days where we don't have your financial institution details (FID).
Currently this applies to certain:
- income tax refunds
- fringe benefits tax refunds.
If we retain your refund, we'll contact you to update your FID to receive your refund by electronic fund transfer (EFT).
We'll contact you by sending:
- a letter to your tax professional using Online services for agents
- a message in myGov
- an email
- a letter.
When you update your FID, your refund will issue via EFT. EFT payments are faster and more secure than cheques.
If your details aren't updated within 90 days, your refund will issue as a cheque.
If your refund is deposited into your registered tax professional's bank account, you'll need to make sure their details are also up to date.
We'll only use these account details to deposit refunds and ATO-held super. We don't use them for direct debits.
How we pay your BAS refund
If you have an Australian business number (ABN) we'll pay refunds directly into your nominated financial institution account.
Generally, this account needs to be at an Australian branch and held either:
- in your company, business or trading name (this can also be held jointly with another business or individual)
- by a registered tax agent.
Your financial institution may offer real-time payment services using Osko or PayID.
However, although we're working towards improving available payment options, currently:
- we can't pay using a PayID
- refunds from us won't be real-time.
If you're expecting a BAS refund but haven't received it, see Where is my BAS refund?
Changing your account details
You can change your account details, including FID:
- using our online services for individualsOpens in a new window
- using Online services for business
- by phoning us on 13 28 66.