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ATO Notes Extension of Time to Amend Tax Returns for Small and Medium Businesses

|Approved Changes|Australia
Australia

The Australian Taxation Office (ATO) recently published updated guidance on requesting an amendment to a business or super tax return. The guidance notes that for the 2024–25 and later income years (starting on or after 1 July 2024), small and medium businesses have up to four years to request an amendment to their tax returns, up from the prior limit of two years. For other taxpayers, the time limit is four years, which is unchanged.

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