Lodge Tax Return

How To Lodge Tax Return With MyTax 2023

5/5 - (1 vote)

In this article I’m going to show you How To Lodge Tax Return With MyTax if this is your first time lodging your tax return in Australia then you may feel intimidated but trust me guys it’s actually very easy Once you know how to do it let’s get straight into it.

My Gov

My taxes are free program provided by ATO the best thing about my taxes one it’s free and two you don’t have to download any software onto your computer it’s a program that works straight on your internet browser you just need internet access and a Mygov account.

So first we need a Mygov account

–> Go to Google and type in MyGov

–> Then click the first link that comes up then click create account

–> There you’ll have two options to create your mygov account either through email or by digital identity which requires a Mygov id

–> Mygov id and Mygov account are two different things and My gov account is what we are trying to sign up for

Now so you can link to multiple government services like the ATO Medicare and Centrelink

Whereas Mygov ID is an Australian government digital identity app which you can use to sign into a number of government online services like Mygov

Think of Mygov ID as the key to unlock all these benefits online you can choose to sign up either way but I would strongly recommend signing up for Mygov ID because you’ll eventually need it anyway to link your Mygov account to the ATO.

And like I said you can use it to link to other government services like Medicare and Centrelink these are handy government services that you’ll need access to as you grow older.

So if you want to sign up to a Mygov ID click on `the given link there and it’ll take you to this page that shows you what Mygov id is and the benefits it provides there’s even a video that shows you how to sign up so just follow the instructions given.

–> Now if you don’t want to sign up for a Mygov ID right now for whatever reason then you can select continue with email from there.

You can agree to the terms and conditions and follow the prompts like you are signing up for any other online account have a read of the terms of use and if you agree with everything then tick the boxes and click next.

–> They’ll then ask you for your email address I would recommend using your personal email and not a work one since this email will be linked to your account going forward so enter your email and click next they will then send you a six number code to verify your email so go into your email enter the code and click next.

–> Now it’s asking for your mobile number so it can send you one-time use codes whenever you sign into your account in the future this just adds an extra layer of security if you don’t have a mobile number or you don’t want to provide one click skip this step otherwise enter your number and click next.

–> Then they will ask you to create a password so just create one using the requirements they have provided they will then ask you to answer three secret questions so if you ever have to change your password in the future this is a way to prove to them that you are who you say you are so go ahead and do this then once you’re done click next.

–> And there you go they have created your account for you, Let’s click Continue.

Linking ATO With MyGov

So once you have created your MyGov account

–> Log into your account

–> What you want to do now is Click profile and connect digital identity so this is where you’ll have to provide your mygov ID so if you don’t have one already go back to the previous steps and create one

–> Once you have it come back to this digital identity Tab and click connect digital identity then follow the prompts on screen to connect your MyGov ID details.

–> Once this is done go back to your profile page select Link services and Link Australian tax office then you’ll have access to the ATO before starting your tax return this year make sure you receive this email from the ATO stating that your employer has uploaded your payroll details for the Year.

This is ensures that all the pre-filled items on my tags are up to date you don’t want to do your tax return right on the 1st of July because if your text figures change then you’ll have to do a tax adjustment and trust me that’s very annoying usually your employer will upload all the details by Mid-July every year.

You can go through this video also.

My Tax

Alright so let’s begin in How To Lodge Your Tax Return if this is your first time using my text they will ask you for your personal details so type in your email mobile number and residential address.

Double check to make sure everything is correct.

Then click next on this next page they’ll ask you for your bank details this is the account where they will refund your money to so you’ll definitely want to get this one correct or else they’ll send your money to someone else and well that will be very sad.

Once you have triple checked that you put the correct account click next or you’re an Australian resident for tax purposes from 1st of July to 30th of July.

They will ask you to select what you want to claim or report to their video if you have used My Tax before then they may pre-fill it for you based on what you selected in previous years.

You can fill all the details which they are asking because all the details will be different from one another.

with all that click next alright so you will reach at the actual page where you complete your tax return and again just a friendly reminder to wait until Mid-July to give enough time for your employers to enter your data to my tax.

Once it’s ready you will receive a MyGov email to confirm so every time you open up my tax your salary or wages should already be pre-filled.

So have a quick look at the details and then you will see the Tax Return.

Disclaimer

I’m not a tax accountant and the information today is for entertainment purposes only.

This article (How To Lodge Your Tax Return) is aimed at the average Australian who has a full-time job a few ETFs under their name and a few walk-related deductions.

So it’s only for relatively simple tax returns if you have a more complicated tax return so say you own your own business or you own multiple investment properties.

Then I would strongly recommend you go see a professional tax accountant they will be able to properly structure your portfolio to be as tax efficient as possible because they do this every day and are up to date with all the new laws and legislations.

Conclusion

Hope your all questions are cleared regarding How To Lodge Tax Return For Free With MyTax 2023. If you have any other question regarding it please feel free to comment it down i will definately answer that.

I will be updating it in future, And if you liked the post please rate it give it a Five Star.

For more crypto and Australia related information Please visit our website INVEST IN DOLLAR.COM

What is MyTax?

The Australian Taxation Office (ATO) created the free online tax return tool called MyTax. You can quickly and conveniently file your tax return with this without having to download any software.

Who can use MyTax?

MyTax is available to all Australian residents who have a myGov account linked to the ATO.

How do I get started with MyTax?

To get started with MyTax, you will need to:
..Create a MyGov account if you don’t already have one.

..Link your MyGov account to the ATO.

..Go to the ATO website and click on the “MyTax” link.

What information do I need to lodge my tax return with MyTax?

You will need to provide the following information to lodge your tax return with MyTax:
Your personal details, such as your name, address, and tax file number.

Your income information, such as your salary, wages, and interest income.

Your deductions, such as work-related expenses and donations to charity.

How long does it take to lodge my tax return with MyTax?

It usually takes about 30 minutes to lodge your tax return with MyTax. However, if you have a lot of income or deductions, it may take longer.

Is MyTax secure? 

Yes, MyTax is a secure online platform. The ATO uses a range of security measures to protect your information, including encryption and firewalls.

Can I get help with MyTax?

 Yes, the ATO offers a range of help and support services for MyTax users. You can contact the ATO by phone, email, or chat.

What if I don’t have a myGov account?

If you don’t have a myGov account, you can create one for free. To do this, go to the myGov website and click on the “Create account” link.

What if I don’t have a tax file number?

 If you don’t have a tax file number, you can apply for one online. To do this, go to the ATO website and click on the “Apply for a tax file number” link.

What if I have a lot of income or deductions?

If you have a lot of income or deductions, you may want to consider using a tax agent to help you lodge your tax return. Tax agents can help you to ensure that your return is accurate and that you are claiming all of the deductions that you are entitled to.

What is the deadline for lodging my tax return?

The deadline for lodging your tax return for the 2022-23 financial year is 31 October 2023. If you lodge your return after the deadline, you may be liable for a penalty.

What if I need more time to lodge my tax return? 

 If you need more time to lodge your tax return, you can apply for an extension of time. To do this, go to the ATO website and click on the “Apply for an extension of time” link.

Due date to lodge tax return 2023?

Due date to lodge tax return 2023 is 31 October 2023.

About The Author

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top