When you lodge a tax return you include how much money you earn (income) and any expenses you can claim as a deduction. This information allows us to check how much tax you should have paid. If you have paid more tax than you need to, we will refund the extra amount to you (this is called a tax refund). If you have not paid enough then you may receive a tax bill. The ATO has a dedicated section about the IAS and lodgement time frames. If you are stressed out at tax time, BasSoon Accounts can help to make all the necessary preparations so you can focus on your business.