Etax vs myTax – How do they compare?
Etax and myTax both provide online tax returns, but there are big differences you should know about
Let’s start with a basic question:
Do you want the best tax refund possible?
If the answer is yes, then keep these facts in mind:
- Etax’s mission is to get you the best possible tax refund.
- The ATO and their myTax platform only exist to collect revenue for the government. It’s not their job to get you a big tax refund.
Our clients often tell us they get a bigger refund with Etax. Why? There are big differences between Etax and myTax:
- Etax is Australia’s longest running online tax agent, a company that’s on your side. myTax is just a government system set up by the ATO.
- Etax charges a small fee which includes unlimited support and guidance from real accountants who want to make tax easy for you.
- Etax checks your tax return, before lodgment, making sure your deductions are done right so you get the refund you deserve. Etax fixes errors that could cause ATO problems. (See below for full service description).
- myTax doesn’t provide tax help, resources or checks before you lodge your return. ATO staff do not help you to get your deductions right and get the best tax refund. Etax does!
Is there anything else I should know about myTax and Etax before I lodge my tax return?
Absolutely!
Tax is complicated. If you go it alone, it’s almost inevitable that at some stage, you’ll get something wrong. That can cost you money.
Getting something wrong means a place on the ATO ‘risk’ list – or worse, an audit on your tax history. Errors also mean you might miss out on a bigger refund too. This is when your FOMO really is warranted!
But do I really need to pay a fee to lodge my tax?
There are drawbacks to almost anything that’s free. While myTax is free, it is also difficult to use for tax deductions, which means smaller tax refunds for you. If you need help, at myTax you’re all on your own.
You’ll never defeat the Death Slayer if you don’t know how to find the dragon gold!
Consider an online game:
With the free version of an online game, you can usually only achieve a certain level and have limited powers and limited access. You never get the full game experience or the extra tools and tips you need to get a decent score, defeat the enemy and get your name on the wall of fame, unless you switch to the paid version.
The same applies to tax returns. For free, you can navigate certain areas and use limited functions, but you can’t ask for help, and you don’t get to experience the full benefits and functionality of a customer-friendly service like Etax.
Across the board, a free service seems like a good idea at first but generally doesn’t provide all the resources or advice you need for it to be of any real benefit. Plus, there are compromises that can cost you money.
With the free myTax platform through myGov, there is NO OPTION for personal help if you need it!
So let’s look at what that means:
- A complicated website,
- No guidance or personalised tax advice
- No how-to tips as you go
- If you miss tax deductions, no one tells you. (This often costs you far more than the fee to engage a tax agent).
- And as we said before, no one checks that your tax return is correct before you commit to lodging it.
So, doesn’t it make sense to pay a small fee, get the help you need to get a better refund and spare yourself the worry that you might have got something wrong?
When I choose Etax over myTax to lodge my tax return, what exactly do I get?
Unlike myTax, Etax provides you with a full tax agent service PLUS the resources you need, year-round, to keep you tax smart, organised and up to date on tax topics that relate to you.
The Etax service includes:
- 24/7 access to a secure, user friendly and easy to understand online tax form and document vault.
- Unlimited Live Chat and secure messaging with qualified, friendly accountants.
- Simple how-to videos and help popups to guide you through each section.
- Full review of every return. Your accountant will contact you if they notice something wrong or think you may have missed a deduction.
- Fast, electronic lodgment and any ongoing communications with the ATO, on your behalf.
- Fee From Refund option means there’s no need to pay anything up front. You only pay your fee when we receive your tax refund.
- Tax resources, checklists, and newsletters throughout the year, at no charge.
The Verdict
Most Australians use a tax agent like Etax because “you get what you pay for” really is true when it comes to lodging your tax return.
No one can afford to take chances with their taxes. Having Etax on YOUR side, to make sure you get the support you need, really is a “no-brainer”.
myTax may provide the basic platform to process a tax return but are you really getting a fair deal and peace of mind when it comes to something as important as tax?
Find out how to get your taxes done in minutes with all the help and support you need, with Etax.
