The Australian Taxation Workplace is encouraging individuals to file their tax returns on-line, claiming the method is less complicated and sooner than ever earlier than.
ATO tax commissioner Chris Jordan stated that it usually takes half an hour for individuals to lodge their return via the myTax platform.
“Now we have developed a set of on-line companies which have made it simpler than ever earlier than to get your tax return achieved, and now we’ve got most pre-fill data akin to wages, financial institution curiosity and dividends prepared for taxpayers and brokers to make use of,” he stated.
“This implies a lot of the work is completed for you. Your data might be accessed through myTax or might be uploaded by your agent. All you must do is evaluation the pre-filled data and add any deductions, it’s that straightforward.”
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Extra Australians submitting returns on-line
Mr Jordan stated that 2017 was more likely to be a document 12 months for lodgment numbers.
“We’ve obtained nearly 5 million returns already this 12 months, which is a rise of 360,000 on this time final 12 months,” he stated.
“Nearly two million Australians have accomplished their returns themselves utilizing myTax, up 13 per cent from final 12 months.
“So whether or not you lodge your individual return or use an agent, the numbers present that it’s simpler and sooner than ever earlier than to get your tax achieved – which additionally means getting your refund again even sooner.”
Mr Jordan stated the ATO had already issued 3.6 million refunds value a complete of just about $8.5 billion.
Greater than 96 per cent obtained their refunds inside 12 days, he added.
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App makes it simpler to say deductions
The ATO has developed an app that makes it straightforward for individuals to handle their tax and superannuation affairs on the go, based on Mr Jordan.
“The most effective options of the app is our myDeductions device which lets you take a photograph of receipts utilizing your smartphone, and retailer them in a single handy spot,” he stated.
“You’ll be able to then share your data straight together with your agent or add your deductions on to your tax return.”
Mr Jordan stated the app means individuals don’t need to miss out on deductions due to pale or misplaced receipts.
