By: Virginia Padovese
Do you need to lodge a tax return? If you earn a salary you probably do. You must declare all your income but you can also claim your work-related expenses. Find out all you need to know about how, when and why.
If you earn a salary in Australia you’ll need to lodge a tax return. Your employers deduct taxes every time they pay you, but you still have to lodge your tax return for two reasons.
- You may have additional income (for example bank interests, shares, rent and other payments that are made to you)
- You can claim back some expenses that are related to your work.
In some cases you may have to pay more taxes, in other cases you can get some money back.
Tax returns cover the financial year, which starts on July 1 and ends on 30 June the following year, and if you are lodging your own it is due by 31 October. The easiest and fastest way to lodge your own return is online using myTax. You need a myGov account linked to the ATO to lodge online. Most people can use myTax and you can check if you are eligible to use myTax here.
To lodge your tax return with myTax click here.
Do you need to lodge a tax return?
Most people need to lodge a tax return each year. Work out if you need to lodge it for 2015.
If the answer is yes, you can lodge it on line. (Remember that to lodge online you will need a myGov account linked to the ATO).
Lodging your first tax return
If this is the first time you are lodging a tax return, here you can find some useful tips.
If you need help with English, you can phone the Translating and Interpreting Service (TIS) on 131450.
- Do you need to lodge a tax return?
If you had tax taken from any income you received during the financial year, you need to lodge a tax return unless you fall within certain exceptions.
If you are unsure whether you need to lodge, follow this link.
- How to lodge a tax return
The easiest and fastest way to lodge your tax return is online.
Get started by answering a few questions about your income and deductions for the 2014–15 year using the online pre-lodgement questionnaire. Based on your answers you will get the right online lodgement product for you – myTax (for people with simpler tax affairs) or e-tax (if your tax affairs are more complex).
As a first time lodger, there are a few steps you need to follow
1. You will need to have your tax file number (TFN) handy and one of the following documents: your birth certificate, passport or citizenship certificate.
2. Create a myGov account.
3. Call 13 28 61 and press 5 at the prompt to get your unique linking code to verify your account. Each unique code will expire after 24 hours.
4. Sign in to myGov, go to the Services page and link to the ATO. Select ‘I have a linking code’ and follow the instructions as prompted.
5. You are now ready to use ATO online services and start your tax return using myTax.
Other ways to lodge your tax return
You can find all the information on how to create a myGov account and link it to the ATO in order to lodge on line here.
Create a myGov account now here.
When are tax returns due?
If you are preparing and lodging your own tax return, you have from 1 July to 31 October to lodge it.
Need help?
There is a free service called Tax Help that can help you prepare and lodge your tax return. For more information visit Tax Help.
See also
- How to apply for a tax file number (TFN) – click
- What can I claim? – click
- Income you must declare – click
- Tracking your refund or fixing a mistake – click
- Troubleshooting technical issues – click
Prior year returns
If you still need to lodge a tax return for a previous year, it is important to get up to date as soon as possible to reduce the risk of a penalty. You have three options:
- Lodge with a tax agent
- Lodge a paper tax return (you can order a paper copy of tax return forms and instructions for previous yearsonline or calling 1300 720 092). You can also access the instructions for recent years’ returns on line
- Lodge online (you can use myTax to lodge your 2014 tax return if you were eligible).
If you are having difficulties meeting your tax obligations you can contact the Australian Taxation Office.
Source via SBS
