Filing your tax return online made easier
The Australian Tax Department has further developed its e-tax offering with the expansion of its "pre-filling" facility for those filing tax returns online.
"Pre-filling" refers to the information that is automatically entered from third parties, such as Centrelink and Medicare Australia, on a tax return. The ATO says the system is designed to make e-filing easier, cheaper and more personalised.
While it won't be fully implemented until 2009, once complete, the system will enable individuals and businesses to access one system instead of a multitude of registration, processing and accounting systems. The one system will track all your dealings with the ATO too so if you have an inquiry it will be resolved more quickly and easily.
Multiple accounts are also possible for those with complex tax needs.
For example, from July last year the pre-filling options added information from the Department of Veterans' Affairs and the Department of Education, Employment and Workplace Relations, and from private sector organisations such as financial institutions (bank interest, share dividends and managed funds information).
From July 2008 the pre-filling system will include more government agencies and financial institutions. The additions are particularly good for employers who lodge their employees' payment summaries electronically.
"There will be an increase in the types of information that can be pre-filled, including private health insurance information from Medicare Australia, some information we hold - such as previous-year deductions and higher education loan payment (HELP) information - and more types of salary and wage payment summaries," the ATO advises.
"The pre-filling arrangements may make it possible for taxpayers with 'simple' tax affairs to pre-fill and then lodge their tax return without having to do anything else."
"For 2008 tax returns, these improvements will make pre-filling available for up to nine million taxpayers. However, because it will be late July or mid-August before much of the information we receive from third parties is available for pre-filling purposes, the full benefits of pre-filling may not be available to the 1.5 million or so taxpayers who lodge their returns in July."
The ATO say satisfaction rates from individuals and businesses have improved dramatically. For example, a recent survey found 85 per cent of people felt the ATO were doing a good job - up from 50 per cent in 1997.
For more information, down load the ATO's Making it easier to comply booklet by using this link: http://www.ato.gov.au/content/downloads/CORP117356MIETC.pdf
CareerOne.com.au
"Pre-filling" refers to the information that is automatically entered from third parties, such as Centrelink and Medicare Australia, on a tax return. The ATO says the system is designed to make e-filing easier, cheaper and more personalised.
While it won't be fully implemented until 2009, once complete, the system will enable individuals and businesses to access one system instead of a multitude of registration, processing and accounting systems. The one system will track all your dealings with the ATO too so if you have an inquiry it will be resolved more quickly and easily.
Multiple accounts are also possible for those with complex tax needs.
For example, from July last year the pre-filling options added information from the Department of Veterans' Affairs and the Department of Education, Employment and Workplace Relations, and from private sector organisations such as financial institutions (bank interest, share dividends and managed funds information).
From July 2008 the pre-filling system will include more government agencies and financial institutions. The additions are particularly good for employers who lodge their employees' payment summaries electronically.
"There will be an increase in the types of information that can be pre-filled, including private health insurance information from Medicare Australia, some information we hold - such as previous-year deductions and higher education loan payment (HELP) information - and more types of salary and wage payment summaries," the ATO advises.
"The pre-filling arrangements may make it possible for taxpayers with 'simple' tax affairs to pre-fill and then lodge their tax return without having to do anything else."
"For 2008 tax returns, these improvements will make pre-filling available for up to nine million taxpayers. However, because it will be late July or mid-August before much of the information we receive from third parties is available for pre-filling purposes, the full benefits of pre-filling may not be available to the 1.5 million or so taxpayers who lodge their returns in July."
The ATO say satisfaction rates from individuals and businesses have improved dramatically. For example, a recent survey found 85 per cent of people felt the ATO were doing a good job - up from 50 per cent in 1997.
For more information, down load the ATO's Making it easier to comply booklet by using this link: http://www.ato.gov.au/content/downloads/CORP117356MIETC.pdf
CareerOne.com.au
