ATO axes e-tax in favour of myTax
The Australian Tax Office (ATO) has announced that it is axing online lodgement tool e-tax, replacing it completely for the first time with myTax. This means anyone wishing to prepare their own tax return in 2016 can only use the online myTax application.
Assistant Commissioner Graham Whyte said myTax, which was first introduced in 2014, has been upgraded and improved since last tax time, and will also expand on the e-tax platform’s offerings.
“For example, not only will Australians with rental properties be able to use myTax this year, but they will also be able to take advantage of the fully integrated tools and calculators. One of these new tools allows property investors to record depreciation and capital gains,” he said.
The ATO said myTax is safe, secure and accessible by any computing platform, including mobile phones and tablets.
In 2015, nearly 2 million lodgements were made through myTax, which was a 70% increase since its introduction. The ATO is expecting to see 3 million myTax lodgements in 2016, accounting for those who preferenced the older e-tax platform.
“We understand sometimes it can be hard to change habits, especially for those who have been using e-tax since its launch in 1999. What we would say to those who are a bit unsure about myTax is to give it a go: you’ll probably have your tax return lodged in a fraction of the time,” Whyte said.
To find out more on how to lodge using myTax, visit ato.gov.au/individuals/lodging-your-tax-return/lodge-online/.
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