Compare myTax and other tax return options: What’s the best one for you…
The ATO has a new tax “product” called myTax – another way to self-prepare your tax return, replacing the old ATO e-tax software.
As a taxpayer it is hard to know what to do. What is the best tax return and what are the alternatives?
Let’s compare the most popular tax return options plus the ATO’s new myTax…
- Do your tax return online in 15 minutes
- See your deductions from last year, so you won’t forget, plus new deduction tips based on your occupation
- Tax returns for all taxpayers, from students, to your 1st job, to high income executives
- Less reading: Choose the bits you need and hide the bits you don’t need
- Online and phone support (with a real accountant who’s on your side)
- Your tax return is checked by 2 accountants before lodgement
- Help with ATO audits or amended returns
- Confidence of tax agent lodgement and support
- The low fees are tax deductible
- You have to register all your personal details on the MyGov website before you start myTax
- Hard to be confident you’ve done it right, hard to know if you’re missing out on tax deductions
- Limited support, no help from people who are on your side
- Saving on tax agent fees by using ‘free’ ATO tools like myTax could mean you get a smaller tax refund. (And tax agent fees are tax deductible anyway.)
- No checking by an accountant – make a mistake and you’re on your own with ATO auditors
- If you have to lodge an amendment to fix a mistake, you will need a tax agent
- ATO audit or troubles? If you used myTax, you are on your own
Traditional Tax Agent’s Office
- An office appointment usually takes 1 hour or more of your time
- Must take all of your tax info with you… let’s hope you don’t leave something at home
- You get advice when you’re there, but typically little or no support after you leave
- You might not get advice directly from a qualified accountant
- Cost of visiting a Tax Agent office can be expensive; advertised prices are low, yet the average paid by Australians (based on ATO figures) is over $370
ATO e-tax Software
- The ATO has announced that its own e-tax software is no longer available.
- This was time-consuming software from the ATO
- Required registration of all your personal details on MyGov website
- No checking by an accountant – make a mistake and you’re on your own
- Included 100 – 200 pages, or more
- Saving tax agent fees by using ATO tools can mean a lower tax refund
- ATO audit or troubles? Using myTax or e-tax, you are on your own
Who uses a tax agent service?
Most Australians do.
In fact, ATO figures show 74% of taxpayers use a tax agent.
It is funny that the ATO’s “media messages”, in articles created by PR & media agencies hired by the ATO (and paid for by taxpayers), often imply that myTax is the “main” way that we should do a tax return.
Because the fact is, most Australians prefer to use a tax agent like etax.com.au.
People use a tax agent service because…
- Confidence your return is done right
- A tax agent is looking out for your interests, helping you avoid ATO trouble and trying to improve your tax refund
- The ATO’s rules are so complex that only an expert has time to take it all in
- Using an agent is easier and faster than worrying about it yourself
- It is affordable, just one mistake avoided can pay for itself, and the fees are tax-deductible
- NEW: You can use a mobile app to save receipts and documents to your Etax account, so you will remember to claim at tax time
The ATO’s main job is to collect tax money – not to give it back.
If you paid for work-related expenses that could get you a better refund, with the ATO you’re on your own. The ATO’s job is not to help you to boost your tax refund or help you with tax advice before you lodge your return.
But helping you get a fair go is a tax agent’s job. That’s why 74% of Australians use a tax agent – and it’s why most of us ignore ATO ads telling us to self-prepare our taxes on myTax.
Who do you trust when you do your taxes?
Using a tax agent like Etax.com.au means you get all the online convenience, plus you’ll have the confidence in knowing your return was done right and that you’ve got the best possible refund.
Wouldn’t you rather think about how to spend your refund, and leave the tax homework to an expert?
At Etax.com.au, we think we’ve got a pretty good service, but don’t just take it from us! Here are some results of our client survey:
Here’s some actual user feedback:
Phillip Tann, SA:
“Etax Accountants have done an AWESOME job on my tax return again this year, nearly $600 more than the std govt etax program estimated. WOO!!”
“I did mine on Friday, I had a little trouble, but when I phoned up, they were extremely helpful and sorted out right away. Their professionalism was outstanding!”
Paul, Dundas Valley NSW
“I have just used your etax service for the first time and am really happy with the quick service, support and results. Thank you so much, will certainly use again and recommend to friends.”
Ready to do your tax return?
The 2016 tax return is ready now.
You can get your return done in no time – just click “get started” below. Our accountants are standing by, ready to help.
Your return will be reviewed and checked by two Etax accountants before lodgement – giving you the confidence it was done right.