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Electronic funds transfer (EFT) Refund

For more information, see Electronic funds transfer on the ATO website.

The account details provided are retained when the return is rolled forward.

To complete the details, make a selection from the list at the prompt Select bank a/c details from:

  • A - The Tax Agent’s Trust Account used to receive refunds will be used by selecting ‘Agent’ from the list:

  • If an agent is selected on the Return Properties Staff tab the account details will default from those recorded under Maintenance > Agents > Properties > Banking tab for the Agent named on the Staff tab. Refer to Banking Details for Agents. 

  • If the agent on the Return Properties Staff tab is blank, then the account details will default from those recorded for the Practice under Utilities > Control Record > Banking tab. Refer to Setting up your Control Record Properties for Banking.

  • 1 or 2 - Up to two sets of bank account details may be stored in the Return Properties, Bank a/cs tab and either ‘Client Bank Account’ may be selected from the list. Refer to Return Properties - Bank a/cs.

Alternatively, enter the details directly into the fields provided at this item:

  • The bank state branch (BSB) number. This six-digit number identifies the financial institution. Do not include spaces, dashes or hyphens in the number.

  • The Account number. You cannot use an account number with more than nine characters. Do not include spaces in the account number.

  • The account name, as shown on the fund’s account records with spaces between each word and between initials. If the fund's account name has more than 32 characters, provide the first 32 characters only. Do not abbreviate the first 32 characters in any way.

If these details are incomplete or incorrect, no EFT will take place.

Direct debit

The trustee can pay tax owing directly from their account using EFT. A trustee can provide separate account details for direct debit and direct refund.

Tax agents can transmit payment details up to three working days before the due date once the DDR has been processed. For further information, phone the ATO on 1800 802 308 or download the direct debit request from the ATO website

Hours taken to complete the return

Completing this item will assist the ATO in reducing costs involved in complying with tax obligations. It is not a mandatory item.

When completing this item consider the time rounded up to the nearest hour that was spent:

  • reading the instructions

  • collecting the necessary information to complete the tax return

  • making necessary calculations

  • actually completing the tax return and/or putting the trust's tax affairs in order

The answer should reflect the time both the trustee and tax agent spent in preparing and completing the tax return. This includes the time spent by any other person whose assistance was obtained in doing this - such as an employee.

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