Settlement Guide: how to lodge a tax return

AAP Image/Tom Compagnoni

AAP Image/Tom Compagnoni Source: AAP Image/Tom Compagnoni

Its Tax Time. Time to get financial records in order, so individuals can lodge a tax return.


Tax returns are needed for almost all earners in Australia.

 

Graham Whyte says the essential step to entering the workforce is to receive a Tax File Number, which you can apply for via the ATO website.

 

Tax returns can be lodged either with the help of a tax agent or through the ATOs online tool myTax.

 

To access myTax people need a myGov account.

 

The ATO says individuals can reduce the amount of tax they pay by claiming certain deductions.

 

The ATO website provides a guide to the types of deductions that are available.

 

Graham Whyte recommends the ATO App called myDeductions to keep a record of your of expenses.

 

Low income earners could also be eligible for a tax offset, which is worked out automatically by the ATO.

Those found guilty of incorrect claims could face fines and prosecution.

 

The ATO has a variety of tools to support newly arrived Australians, including translated information in 30 languages and a translating and interpreting service.

 

Most new arrivals are eligible to use ATOs free Tax Help service.

 

Tax returns for the current financial year should be lodged by 31 October 2016.




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