While technology is rapidly evolving, all corporate and government enterprises are gradually migrating to the cloud and bringing their processes online. Accountants and registered tax agents are all moving toward filing tax returns online.
Let’s look at some burning questions about filing your tax return online.
How do I do my tax return online in Australia?
There are two main routes you can go to lodging online in Australia. These are:
- Lodging with myTax (ATO portal)
- Lodging with a registered tax agent
If you’re old school you could still lodge a paper tax return but you’ll face delays and possible errors.
In Australia you can make use of a registered tax agent like Personal Tax Specialists which will save you time and money. All your data is stored securely in Australia and managed securely as we communicate with you and submit it to the ATO. All our tax agents are based in Australia too, meaning that none of your financial data goes offshore, as a lot of accountants do these days.
When choosing to lodge your tax return online, there are several factors to consider. You should choose a registered tax agent that is thorough and knows how to help you legally claim all of your applicable tax deductions, while at the same time fulfilling all the requirements from the Australian Tax Office (ATO).
Is lodging your tax return online safe?
Thankfully, technology is on our side. With trusted and encrypted websites and portals, it is safe to lodge your tax return online. The danger lies more in how you access these platforms. Unsecured networks and virus-infected computers will put your data at risk. Under no circumstances should you share your personal information over a public WiFi network or via websites that are not encrypted.
As mentioned, with Personal Tax Specialists all of your interactions with us are via secure online platforms so you can trust that your information is safe.
What is the safest way to file taxes online?
The safest way to file your tax return online is to ensure that you are using a reputable registered tax agent or directly through myTax. Keep an eye out for scams or people offering to assist with your tax return online for free or for a small fee. Only registered tax agents are allowed to charge for these services, and they must comply with the law and ATO guidelines.
When choosing a registered tax agent for the first time, do your homework, and don’t be fooled by fancy websites and empty promises.
Make sure the websites are encrypted. Ask questions like, “Where do you store your data?” and “Where are your accountants based?”. When your personal information is saved and sent abroad the potential risks are greater.
Is it better to file taxes online or paper?
If you choose to lodge your tax return online with myTax or through a registered tax agent, then your return will take approximately two weeks versus lodging a paper tax return, which can take up to 50 business days. Lodging online also has the advantage of less manual entry, human errors.
What is the best website to file taxes online?
The Personal Tax Specialists team has developed an online, 5-step process that is used for every single one of our clients’ income tax returns. The process is simple and easy for anyone to follow. No complicated tax jargon or faulty apps and you’ll be assigned to a real person to do your taxes. If you choose to do you own taxes, you can make use of the myTax option on the ATO’s website.
Is it difficult to file your own taxes?
It depends how complex your tax situation is. You can prepare and lodge your own tax returns online for free via the ATO portal. Its relatively straightforward.
The advantage of using a registered tax agent like Personal Tax Specialists though is that you can be sure that your return is 100% accurate and you’re saving tax by claiming all the deductions you weren’t aware of or using fully.
Why should I use a registered tax agent in Australia?
Everyone is good at something, we’re great at Australian taxes. Let a registered tax agent assist you. With us you’ll:
- Save on tax – we get you all your deductions!
- Save your time
- Avoid delays. Submit an accurate return the first time
- Get your refund quicker!
- Avoid trying to figure out the tax system
- Have the option of an extended submission deadline
- Avoid stress
Personal Tax Specialists are industry professionals that specialise in tax. Whether you need to claim work-related travel expenses or are looking for guidance on the tax benefits of running your business from home, you are guaranteed to get the best possible tax advice.
Speak to our team if you have any questions about submitting your tax return online.