Online Tax return lodgment started in year 2000 with the introduction of Etax. Earlier to that only facility available was paper lodgment or Electronic lodgment or lodgment via registered tax agent. With paper lodgment, refund timings were 3-5 weeks.
Tax Office started online lodgment of tax return via etax. Now etax has been abolished and mytax has started as means of electronic lodgment. Lodging online with Mytax ATO is the quick, safe and secure way for you to prepare and lodge your own tax return. The deadline to lodge is 31st October.
The 2016 Budget contained a proposal to expand the 32.5 cent band from $80,000 to $87,000 which is reflected in the table below.
Tax scale 2016-17
| Taxable Income | Tax On This Income (New Rates) |
| 0 to $18,200 | Nil |
| $18,201 to $37,000 | 19c for each $1 over $18,200 |
| $37,001 to $87,000* | $3,572 plus 32.5c for each $1 over $37,000 |
| * $87,001 to $180,000 | $19,822 plus 37c for each $1 over $87,000 |
| $180,001 and over | $54,232 plus 47c for each $1 over $180,000 |
Benefits of Online lodgment of Tax Return with myTax ATO:-
- It is Quick, Safe and secure
- It is available 24/7
- You get your refund faster-within 2 weeks
- It’s available for all individuals including sole traders
- You can get prefill of all your income
- ATO will receive your tax return as soon as you submit it
- New online tools to record depreciation and capital gains
Problem with Online Tax Return 2017 with myTax
- You need to have good knowledge of computer and to answer some security questions
- You cannot lodge 2014 and 2015 online tax return on myTax unless you are eligible
- There is no one on your side to advise in your favor hence you are on your own to do your tax return
- In case of any mistake, ATO may audit you
- It may take up to 2 weeks to get your refund
- now includes:
- business and professionals items
- rental property schedules
- distributions from partnership and trusts
- capital gains tax.
Why MyTax refund today?
In our firm, we lodge all tax return electronically to ATO. All files are lodged same day after verification and checking possibilities for maximization of tax refund. Unlike ATO online tax system which is totally online and there is no help from tax professional, our system is different. In our system , client fills basic details online such as personal details. We then check the data from ATO Pre-fill system and call the client. We ask all possible questions so that we can claim the maximum deductions and maximize the refund. Refund details – ATO refund, our fees, our fees are then sent to client for verification and approval. Client then check the figures and authorizes us, Once client authorizes us, then refund is deposited in 1 hour so that client can access the funds straight away. This 1 hour refund is a unique service not available with any other tax agent or with ATO. Normally you have to wait around 2 weeks to get refund from ATO.
Fill in the form HERE to have an expert call you within 20 minutes and get your same-day refund, or if you have an questions relate to Etax 2017 , MyTax 2017 and Online tax return 2017, you can contact us by calling 1300 698 297 emailing info@mytaxrefundtoday.com.au.
