Doing things via the web has always been preferred by most people because it tends to be more convenience, easy and eliminate any geographical barrier due to location. Taxation in Australia is no different. Choosing to go by the convention process of skimming and scanning the official website of the Australian taxation body to feel various documents such as invoices and receipts can be burdensome. There are several routes you can take to make the process less demanding and easier. If you are looking to lodge your tax return online next year, then you should take time and go throw this article. The information contained here will help you gain a better understanding of the various ways you can lodge a tax return through the internet. In the end you will be able to choose which method that is most convenient for you.
Simple ways you can your tax return online in 2017
The internet provides a very useful means for everyone to lodge their tax return with less hassle and paperwork. It seems a newer technology is introduced every year to make the process faster and less complicated. The upcoming year is filled with so much expectations and a good way to start is by doing the most important things first. For the purpose of this article, we will focus on 3 simple ways you can lodge your tax as you prepare for 2017.
Apart from online Tax Australia, myTax is another tax return system approved by ATO. It is specially designed for use on computers and digital devices like smartphones and tablets. Some of the requirements of using the system include; residing in Australia for the tax year; being fully employed by the Australian government; having deductions only from donations, gifts and expenses made at work; etc.
Online tax Australia
Online tax Australia is approved by Australia Tax Online (ATO) and offers a simple secure system that is seamless and easy to use. You will be able to lodge your tax return quickly with a rest of mind knowing that the system is reliable. Using online tax Australia allows your return to be checked by experts who are not only qualified but also experienced in handling tax related issues.
You can also use e-Tax to lodge your tax return online in Australia. As an approved ATO system, e-Tax is most suitable if you tax appears to be complex. A good example is when you have to pay a tax on a private holiday apartment. e-Tax is available as a software which you can install on a compatible computer system. Unlike online tax Australia, there is no tax agent to check the accuracy of your tax return, but is is still a good system. Some of its automatic features include taking checks on your behalf and doing some your calculations. There won’t be any need for you to re-fill the tax information from the previous year as the system will easily do that for you. Overall, e-Tax is a seamless system for lodging tax returns; it deserves commendation.
You can learn how to lodge your tax returns on any of the systems discussed above by visiting their websites. ATO has simplified everything, so you don’t have to worry about getting hooked. Just determine the system that is most convenient for you based on your financial position and needs. All three systems are good places to lodge your return online.
What you need to complete the process
Whichever system you choose to lodge your return is entirely up to you. However there are certain documents you will need to complete the process regardless of your pick. These documents are mainly records of your financial transactions. You may also need to present a record of your tax deductions if available. Below are the basic things you should to make the process go on smoothly.
- File number: Your tax file number is very important. It is almost impossible to lodge a tax return without this number. In case you don’t have yours already, you can apply for it through Australia tax online.
- Monetary Records: This includes all documents related to your finances. It may include the interest payment you received throughout the year. This must be represented properly on your bank statements in case it is requested.
- Tax deductions: Your tax deductions also need to be recorded. Every detail regarding such activities must be documented for reference.
- Summaries or group certificates: These are documents that are used to record your income or revenue summed up through the year. They also reveal the amount of tax that was charged to you based on your earnings.
- Insurance: You will also need to collate details of your health insurance.
Also remember to enter relevant information and your bank details if you have an outstanding tax refund so that you will be paid by ATO.