The phase of lodging tax return online started in year 2000 which made life of taxpayers easy. Previously, hard copies of tax returns were supposed to be lodged with ATO whether it is done by individuals themselves or through tax agents. This not only involved a lot of manual procedures but also used to take a long time of 3-5 weeks for the refund to come to the recipient.
This initiative of Online tax returns was started by Tax Office with the help of a software called etax. Later Etax was replaced by MyTax which can be accessed through myGov. Lodging online with MyGov is a quick, safe and secure way to prepare and lodge your own tax return. The due date for lodging a tax return for individuals is 31st October for every year. The slab rates for 2018 financial year for calculating tax payable of an individual are as follows:
| 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
Why MyTax refund today?
At My Tax Refund Today, we lodge all types of tax returns electronically to ATO so that the process of tax refund becomes quick. Files are lodged the same day after verification and checking possibilities for maximization of tax refund. When a taxpayer lodges his own tax return from myGov, no professional advice regarding the tax return is provided by the authorities online. Professional advice includes advice for claiming legitimate expenses for which an individual is eligible. It is generally observed that when people lodge tax returns themselves they lack knowledge of tax laws and as a result they may end up either paying unnecessary taxes or taking a lower refund than what is possible in their case. On top of this, we may also offer clients an option to get a part of their refund in 1 Hour*, which is not the case when one lodges his/her tax return from myGov or through other tax agent. We have paid hundreds of clients a part of their refund in 1 Hour in 2017 and are looking forward to offer this service of on spot refund to more clients this year.
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 related to Etax 2018 , MyTax 2018 and Online tax return 2019, you can contact us by calling 1300 698 297 emailing info@mytaxrefundtoday.com.au.
*Conditions Apply
