Online Tax return lodgment started in year 2000 with the introduction of Etax. Before this, only faculty available was paper lodgment or electronic lodgment via a registered tax agent.
However, it has now become much easier to lodge a tax return through many different faculties available. Australian Taxation Office started a service called myTax which allows for a safe and secure lodgment available to the public 24/7 directly with the ATO.
While this is the case, many Australians still prefer to use a registered tax agent who will help you in lodging the tax return while considering all the benefits and offsets you are eligible to. Registered tax agents with their experience can help you in receiving a higher tax refund as they consider all appropriate deductions and tax calculation laws.
ATO has introduced new rates for the 2021 Financial Year which may help you in receiving higher tax refund compared to before. For full calculation and estimate please contact us.
Tax Rates 2020-2021 (1st of July to 30th of June)
|Taxable Income||Tax on This Income (New Rates)|
|0 to $18,200||Nil|
|$18,201 to $45,000||19c for each $1 over $18,200|
|$45,001 to $120,000||$5,092 plus 32.5c for each $1 over $45,000|
|$120,001 to $180,000||$29,467 plus 37c for each $1 over $120,000|
|$180,001 and over||$51,667 plus 45c 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 generally within 2 weeks
- It is available for all individuals including sole traders
- You can get a prefill of all your income
- ATO will receive your tax return as soon as you submit it
- Online tools to record depreciation and capital gains
Problem with Online Tax Return 2021 with myTax
- You need to have good knowledge of computers 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?
Our firm lodges all tax returns electronically directly to the ATO. All files are lodged on the same day as you approve after we perform thorough checks and verification of your documents while considering all the possibilities of maximizing your tax return. The shortcomings of myTax system are that there is no help from a tax professional who can guide you through complex taxation laws and benefits you may be eligible to claim. In our system, we ask for your basic details and check for your prefill from the ATO making sure all your information are up to date and considered. After which, we ask questions regarding all possible deductions you had, making sure that your refund is maximized. All the calculations, information regarding fees is then sent to you for your verification and approval. You are able to see full details of your refund with 100% accuracy, which we only lodge if you’re fully satisfied with. Once a client is satisfied and approve the estimate, they receive a refund within 1 hour* that they can immediately access. This option is a unique service we offer and is generally not available anywhere else. Usually, you would have to wait for 2 weeks to receive the refund from the ATO.
Fill in the get your refund now form to have an expert call you within 20 minutes and get your same-day refund, or if you have any questions relating to Instant Tax Refund 2021, Tax Refund 2021, Tax Return 2021, you can contact us by calling 1300 698 297 or emailing us at firstname.lastname@example.org.
This disclaimer informs readers that the views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee or other group or individual. To have your tax case assessed please contact a registered tax agent.