Assistant Commissioner Graham Whyte said the ATO had replaced e-tax for tax time 2016 with myTax, which has been upgraded and improved since last tax time, and is now suitable for any Australian who wants to lodge their own tax return – regardless their tax affairs.
“In 2016, myTax has been expanded to do everything e-tax could do and more, and will be available on 1 July 2016,” Mr Whyte said.
“For example, not only will Australians with rental properties be able to use myTax this year, but they will also be able to take advantage of the fully integrated tools and calculators. One of these new tools allows property investors to record depreciation and capital gains.”
Since myTax was introduced in 2014, the service has become extremely popular, with 1.75 million lodgements in 2015, there was a 70 per cent increase in the number of people lodging through myTax.
“Over the past few years we’ve been seeing around three million Australians prepare their own tax return using either myTax or e-tax, so we’re hoping to see three million myTax lodgements in 2016,” Mr Whyte said.
“We understand sometimes it can be hard to change habits, especially for those who have been using e-tax since its launch in 1999. What we would say to those who are a bit unsure about myTax is to give it a go: you’ll probably have your tax return lodged in a fraction of the time.”
Mr Whyte said that while myTax is a great tool for people who want to lodge their own tax return, the ATO also knew that around 74 per cent of Australians seek the assistance of a tax agent to lodge. The community has a choice; they can use a tax agent or prepare their own return.
“For anyone thinking about using a tax agent for the first time or a different one to last year, it is important to contact them before the end of October to meet their lodgement dates,” Mr Whyte said.
“It’s also important to ensure you use a registered tax agent. Only a registered tax agent can charge a fee for doing your tax return. A list of registered tax agents is available on the Tax Practitioners Board website,” Mr Whyte said.
