With tax season fast approaching, Australians are thinking about how to prepare their 2011 income tax returns. Recently the Australian Tax Office (ATO) released a comprehensive list of tax return facts which were the results of a study of the 12.3 million people who lodged their tax return in 2009. We think you’ll be interested in the results.
Key Tax Return Facts
- Out of 12.3 million people who lodged their tax return, 71% used a registered tax agent like Etax Accountants and Etax.com.au.
- Only 19% of tax payers downloaded and installed the government’s E-tax software in order to submit their return.
- Tax returns were paid by five different generations:
- Generation Z
- Generation Y
- Generation X
- Baby Boomers
Other interesting findings
- Only 38% of people donated to a charity and then claimed the donation as a deduction
- 65% of all taxpayers claimed some form of work related expenses – and 27% claimed more than $1000 each
- 4% of people declared capital gains
How does this affect me?
With almost three quarters of Australians using a registered tax agent such as Etax Accountants to prepare their tax returns, you are not alone in seeking the help of experts to prepare your tax.
Expert tax accountants are highly knowledgeable and can often suggest further expense claims which can reduce your overall tax payable. In 2002, Today Tonight released a study which supports this idea. They found that people who lodge directly to the ATO end up paying, on average, $1,000 more tax each year! This information is still relevant today.
Why should I use Etax.com.au?
Etax Accountants are Australia’s favourite online tax return. Complete your income tax return with Etax and you will have your return checked by a CPA qualified accountant for accuracy and any further deductions. Our Accountants are extremely knowledgeable on all aspects of tax law in Australia and often find extra deductions and offsets, all of which can maximise your refund received from the ATO.
So head to our start page and begin your tax return today!