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As the Australian Taxation Office (ATO) gears up for tax time, they are urging taxpayers not to rush their annual income return.

Early lodgement without complete information may lead to processing delays and follow-up question from the ATO.

ATO Assistant Commissioner Tim Loh advises waiting until late July when pre-filled information becomes available to ensure a smoother and more accurate tax return process.

Harry Liang partner from Captune Partners says tax returns in Australia are anticipated to be smaller or fewer compared to the previous year, as per the expectations of the Australian Taxation Office (ATO).

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