The ATO has advised tax agents that from 1 July 2013, individual returns will require bank details to be entered when lodging through ELS, where a refund is expected. It says this will enable electronic funds transfer (EFT) to be used, which is the fastest and most secure way to receive tax refunds. The ATO says details such as the BSB and account number will be required, and that joint accounts and trust accounts will also be acceptable.
[LTN 32, 18/2/13]