Can I adjust my tax return from a previous year?

[gooram]

Let's say "a friend of mine" made a mistake on their tax return and didn't include a significant deduction, is it possible to re-claim for the applicable year?

If not do you know of any process that allows you to adjust a claim in any way?

Thanks.

 

[Minxdamanx]

My new accountant is currently re-doing our 07/08 returns as our old accountant missed something.

So yes, it is possible.

 

[Leikela]

Yes, you can go back and amend up to five years back.

 

[FletcherTax]

Yes, under the current system both the ATO and taxpayers can amend upto 5 years worth of Returns.

 

[gooram]

Thanks guys.

If anyone is interested in doing it themselves, I tracked down the form you need to make the adjustment.

http://www.ato.gov.au/content/downloads/2843_07_2006.pdf

Cheers.

 

[Rixter]

Let's say "a friend of mine" made a mistake on

Depends on how well you know 'your friend'!