Eight out of every ten tax returns needs adjustments
Australian taxpayers need to be careful when submitting their returns to ensure they comply with ATO guidelines and maximise their refunds according to leading Australian online tax service, Etax Accountants .
Scott Griffin of Etax Accountants, said that eight out of every ten returns they handled in 2006 needed adjustments made to it before being lodged with the ATO.
People do not always know what they can and cannot claim when it comes to tax deductions, and that can cause unforseen financial dramas when it comes to be assessed by the tax office.
He said, with many of the returns they receive, they can usually also identify additional deductions their customers did not even realise were available to them. Either way, not having your tax return checked over before you lodge it can work out to be an expensive exercise.
Griffin recommends having your 2006-7 return reviewed by a qualified accountant before lodging it with the tax office to check for ATO compliance and to identify any additional tax deductions you may be eligible for.
They created the Etax website to provide an easy way for people to complete their tax returns and have it checked over by an accountant without having to pay an arm and a leg for the privilege.
It is free to register to use the site which gives you access to our online Knowledge Bank, with hundreds of free tips and tricks for reducing your tax bill, as well as a free pre-lodgement tax calculator, which is a good way of finding out what to expect from your return, before actually submitting it.
Ultimately, their aim is to try and make sure their users receive the best possible tax refund they can with the least amount of fuss.
A Basic Tax Return service from Etax costs only $49 plus GST, and users can choose to have the fee deducted from their return, instead of having to pay upfront.
Unlike the ATO website, which requires users to downloads and install large program files on their computer, the Etax website also allows users to complete their return entirely online in just five steps.
The newly launched 2007 Etax website is now open for registration for the 2006-2007 financial year.
30-Jul-2007