ETax 2014
- Thread starter ozk
- Start date
ETax may be available but its not that straight forward this year.
To use e-tax a new identity validation is required from mygov.gov.au....Good luck all. Its a very intrusive change and some may not be that keen to have this single identifier that includes super, medicare, centrelink (Yes its the Australia Card online). It will pose a real problem for doing family tax returns too. Multiple registrations, each with unique identifiers etc. I'm interested in any feedback on this process.
This link explains the new "non-etax" option. It wont assist anyone with an investment property and is intended for taxpayers with VERY simple returns and limited deductions.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/Lodge-online/
Be aware that the ATO has been subject to massive tax fraud in the first weeks of prior tax years. This year they have already explained
1. ALL refunds for all taxpayers must be to a identity checked bank account (mygov again); and
2. Refunds may be delayed in the month of July;
3. Taxpayers who register at mygov will be emailed when they are "allowed" to lodge after employer, bank interest, dividened data matching has been completed...maybe in early August at best. I havent been able to determine if this is just for "mytax" users or if its also etax. A session I attedned yesterday said that tax agents are excluded from many of these limits EXCEPT now tax agents CANNOT change a taxpayer name - even by marriage, divorce etc... A new rigorous identity validation is required
Ohh and the paper tax return for individuals is NO LONGER available at newsagents (tax pack).
To use e-tax a new identity validation is required from mygov.gov.au....Good luck all. Its a very intrusive change and some may not be that keen to have this single identifier that includes super, medicare, centrelink (Yes its the Australia Card online). It will pose a real problem for doing family tax returns too. Multiple registrations, each with unique identifiers etc. I'm interested in any feedback on this process.
This link explains the new "non-etax" option. It wont assist anyone with an investment property and is intended for taxpayers with VERY simple returns and limited deductions.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/Lodge-online/
Be aware that the ATO has been subject to massive tax fraud in the first weeks of prior tax years. This year they have already explained
1. ALL refunds for all taxpayers must be to a identity checked bank account (mygov again); and
2. Refunds may be delayed in the month of July;
3. Taxpayers who register at mygov will be emailed when they are "allowed" to lodge after employer, bank interest, dividened data matching has been completed...maybe in early August at best. I havent been able to determine if this is just for "mytax" users or if its also etax. A session I attedned yesterday said that tax agents are excluded from many of these limits EXCEPT now tax agents CANNOT change a taxpayer name - even by marriage, divorce etc... A new rigorous identity validation is required
Ohh and the paper tax return for individuals is NO LONGER available at newsagents (tax pack).
Update - Yes you CANNOT USE either e-tax or mytax without a validated identity that allows you to link to the ATO. Your present year PAYG Summary seems to be one of the obvious documents. NOT A PRIOR YEAR NOTICE. You can also use a dividend or superfund stmt. Its is unlikley that identity checking will be acceptable until around August !!! It then emails you and says "I'm ready now"....Thats gonna **** off a lot of people.
Tax agents are excluded from this stupidity.
Another new change - Big Brother !! All taxpayers must include a email address and a mobile phone number on returns this year. And it will transfer from mygov to the return.
Tax agents are excluded from this stupidity.
Another new change - Big Brother !! All taxpayers must include a email address and a mobile phone number on returns this year. And it will transfer from mygov to the return.
ETax may be available but its not that straight forward this year.
To use e-tax a new identity validation is required from mygov.gov.au....Good luck all. Its a very intrusive change and some may not be that keen to have this single identifier that includes super, medicare, centrelink (Yes its the Australia Card online). It will pose a real problem for doing family tax returns too. Multiple registrations, each with unique identifiers etc. I'm interested in any feedback on this process.
This link explains the new "non-etax" option. It wont assist anyone with an investment property and is intended for taxpayers with VERY simple returns and limited deductions.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/Lodge-online/
Be aware that the ATO has been subject to massive tax fraud in the first weeks of prior tax years. This year they have already explained
1. ALL refunds for all taxpayers must be to a identity checked bank account (mygov again); and
2. Refunds may be delayed in the month of July;
3. Taxpayers who register at mygov will be emailed when they are "allowed" to lodge after employer, bank interest, dividened data matching has been completed...maybe in early August at best. I havent been able to determine if this is just for "mytax" users or if its also etax. A session I attedned yesterday said that tax agents are excluded from many of these limits EXCEPT now tax agents CANNOT change a taxpayer name - even by marriage, divorce etc... A new rigorous identity validation is required
Ohh and the paper tax return for individuals is NO LONGER available at newsagents (tax pack).
meh..
Took the best part of 5 minutes to enter what was needed.
My.Gov (previousdly Australia.Gov) links Centrelink, Medicare, EHealth, and ATO online.
Its really not that difficult and nothing really like the Australia card.
Gary + meh....Thanks for that feedback. I was given bad info. My a tax professional body - Self interest concerns ??
The understanding is you cant lodge with mytax until prefills are actually available. Once you register with mygov.useless.au if you are eligible it messages you later. ATO are suggesting August ? Can somone confirm or refute this ??
I'm also expecting the look of horror on my face when my Notice of Assessment comes this year. It will include a tax receipt which shows where all my $$$ were spend. http://www.joehockey.com/media-files/media-releases/ContentPieces/92/download.pdf Here is a old draft....That light blue "welfare" line has me concerned.
The understanding is you cant lodge with mytax until prefills are actually available. Once you register with mygov.useless.au if you are eligible it messages you later. ATO are suggesting August ? Can somone confirm or refute this ??
I'm also expecting the look of horror on my face when my Notice of Assessment comes this year. It will include a tax receipt which shows where all my $$$ were spend. http://www.joehockey.com/media-files/media-releases/ContentPieces/92/download.pdf Here is a old draft....That light blue "welfare" line has me concerned.
I use e-tax so will be interesting to see any changes.
Im sure my brother was telling me in the UK if you are an employee (without any rental properties/other complications) you don't have to bother lodging a tax return at financial years end because the government knows what you earned, the tax you paid, bank interest/ share dividends/whether you are married etc and works it all out for you. They just send you their notice of assessment which you can agree/ not agree to. Is this where we are headed?
- Mind you, i might have dreamed this all up so no one quote me on this.
I don't think i want to know where my tax dollars go. Ignorance is bliss when it comes to this topic.
Cheers, nat
Im sure my brother was telling me in the UK if you are an employee (without any rental properties/other complications) you don't have to bother lodging a tax return at financial years end because the government knows what you earned, the tax you paid, bank interest/ share dividends/whether you are married etc and works it all out for you. They just send you their notice of assessment which you can agree/ not agree to. Is this where we are headed?
- Mind you, i might have dreamed this all up so no one quote me on this.
I don't think i want to know where my tax dollars go. Ignorance is bliss when it comes to this topic.
Cheers, nat
NZ too...Many countries have this system. Mytax is the step in that direction.
Wayne Swan wanted to introduce a broader system where a default deduction was offered but this attracted very strong opposition. Say a $500 deduction. Most union fees are more than $500. Protective clothing + laundry and tax agent fees could easily take deductions to $1,000....So the taxpayer loses. Then they choose to study or do courses like first aid....It was widely criticised as being too stingy or too generous. Which one is right ?
Mytax is for VERY basic taxpayers and those will include many who fear claiming legit deductions.
Wayne Swan wanted to introduce a broader system where a default deduction was offered but this attracted very strong opposition. Say a $500 deduction. Most union fees are more than $500. Protective clothing + laundry and tax agent fees could easily take deductions to $1,000....So the taxpayer loses. Then they choose to study or do courses like first aid....It was widely criticised as being too stingy or too generous. Which one is right ?
Mytax is for VERY basic taxpayers and those will include many who fear claiming legit deductions.
Hi Paul
I thought i didn't dream that up. I think its only a matter of time before Aus goes down that route. I think the gov will slowly stop various deductions and start to simplify things. Medical expenses tax offset is being phased out so whats next.
I think the "average" employee with basic tax needs wont know and wont care. But i could be wrong.
Cheers, nat
I thought i didn't dream that up. I think its only a matter of time before Aus goes down that route. I think the gov will slowly stop various deductions and start to simplify things. Medical expenses tax offset is being phased out so whats next.
I think the "average" employee with basic tax needs wont know and wont care. But i could be wrong.
Cheers, nat
Taxpayers with very basic affairs - Yes. However the ATO doesnt know what union fees are paid or memberships etc....The quandry for Govt is how big a "basic deduction" do they give ?? If too generous it costs govt where a tax return costs the taxpayer
And if a basic taxpayer is disadvantaged perhaps it will force them to buy an IP to escape this regime ?? So the policy has adverse outcomes. Treasury have considred that problem and it was a key reason former attempts were abandonded.
If its not realistic it wont work. eg : income protection insurance for a basic taxpayer. Gift donations. Personal super contributions....The impact could be very significant for some taxpayers, eg : A concessional super contribution could be deemed to be a non-concessional contribution by denying a deduction.
And if a basic taxpayer is disadvantaged perhaps it will force them to buy an IP to escape this regime ?? So the policy has adverse outcomes. Treasury have considred that problem and it was a key reason former attempts were abandonded.
If its not realistic it wont work. eg : income protection insurance for a basic taxpayer. Gift donations. Personal super contributions....The impact could be very significant for some taxpayers, eg : A concessional super contribution could be deemed to be a non-concessional contribution by denying a deduction.
I have made a new file, created a myGov account and downloaded information from myGov (albiet limited to carryover capital losses from 2013) without any trouble.
myGov cant cope. The Commodore 64 is presently performing other important tasks. If its anything like the Tax Agent Portal it should be fixed in a week or three. It hasnt been working well since mid last week.
http://www.smh.com.au/digital-life/...line-tax-return-lodgement-20140703-zsus7.html
http://www.smh.com.au/digital-life/...line-tax-return-lodgement-20140703-zsus7.html
I think I may have been a little harsh on you earlier.
This system is totally stuffed.
So far Etax failed to work, had to upgrade graphics drivers. A lot of people are having this problem.
MyGov is shocking. Just shocking.
I was able to link my ATO account but Medicare and Centrelink have failed. Medicare wont link saying my details do not match. Have been on the phone with them 5 or 6 times so far trying to get it resolved but no good. Same problem with centrelink and most the time it is giving me proxy errors. Luckily I don't actually need either of them to pre fill as I have the info I need anyway but still...
My wife isn't able to link her ATO account, keeps asking her to enter in a birthday but there is no space for it. Again proxy errors and crashes all the time. All the government lines have gone into meltdown as people try to link everything up.
MyFail.
You would think so but this is the government we're dealing with.
With simplicity comes mistakes.
Most tax problems clients bring me they didnt know about. Or their previous adviser Overpaying tax is just a big a mistake as underpaying.
Its like DIY car mechanics. There is nothing stopping you from the DIY approach. Its just sometimes its not smart. For the average PAYG earner the mytax solution makes sense....Just dont expect for it to work easily as it was rushed into use after the budget. A month before the budget the ATO didnt know how it was going to allow mac users to lodge.
Most tax problems clients bring me they didnt know about. Or their previous adviser
Overpaying tax is just a big a mistake as underpaying. Its like DIY car mechanics. There is nothing stopping you from the DIY approach. Its just sometimes its not smart. For the average PAYG earner the mytax solution makes sense....Just dont expect for it to work easily as it was rushed into use after the budget. A month before the budget the ATO didnt know how it was going to allow mac users to lodge.
With simplicity comes mistakes.
Most tax problems clients bring me they didnt know about. Or their previous adviser
Its like DIY car mechanics. There is nothing stopping you from the DIY approach. Its just sometimes its not smart. For the average PAYG earner the mytax solution makes sense....Just dont expect for it to work easily as it was rushed into use after the budget. A month before the budget the ATO didnt know how it was going to allow mac users to lodge.
I do mine myself because I find it very easy and it costs $0. My accountant that looks after my business is happy to give me any advice if I need it.
I found that once you have the properties set up (mainly the depreciation side of it) the whole thing is very straight forward and only takes me half an hour to do these days with the prefill taking care of half of it without me doing anything. The biggest job is actually getting all the dribs and drabs of **** together to enter into the system which I would have to do regardless if my accountant was doing it or not.
There are a lot of misguided souls out there who don't get how tax works. You know the type, "Oh my accountant is the best! He gives me a massive return!" lol
