Lodging a personal tax return can be stressful! Most people don’t keep good records of their expenses and donations, they feel overwhelmed by the whole process, and they’re scared of possibly owing the Australian Tax Office (ATO) money! But being an ostrich and burying your head won’t make this necessary evil go away. If you earn an income in Australia, you’ll need to lodge a tax return – that's the reality. So let’s discuss the best way to make this process less painful!
There are three main ways to lodge a tax return in Australia:

1. Traditionally, face to face with an accountant/tax agent
2. On your own via the ATO portal
3. Online with the help of a tax agent

Let’s take a look at each option for lodging a tax return in more detail.

1.Face to face with a tax agent

More than 60% of Australia’s 15million + individual taxpayers used an accountant to lodge their tax return in 2024, according to ATO statistics. Why? Because most people don't understand the intricacies of Australian tax rules and therefore are nervous about being compliant – they don’t want to get a fine for doing something wrong! They also believe that an accountant knows best how to get the most deductions for them and therefore improve their return. They trust the advice of their tax professional and are comfortable sitting with them to ask and answer questions.

It’s also advisable to use a tax accountant for your tax return if you have a more complex income situation such as working multiple jobs, working as a freelancer, operating as a sole trader, earning money from offshore, or you have income from investments. The risk of lodging your tax return yourself and making a mistake is too great therefore you should engage a tax agent. You can find one near you here.

2.Lodge online via the ATO myTax program

You can lodge online directly to the ATO using the myTax program. It’s available 24/7, easy to use and comes pre-filled with information from your employer, health fund, government agencies and banks. It is the fastest way to receive your refund and is available for individuals and sole traders with simple returns.

Self-lodgers need to be mindful that the system will be monitoring them when they enter deductions; comparisons will be made with others like them. Any deductions claimed that look out of the ordinary will be flagged and you’ll be asked to review it. If this is not done satisfactorily you will be at risk of an audit; if false claims are uncovered there will be fines to pay.

3.Lodge online with the help of an agent

If you’re short of time or can’t get in to see a tax agent face to face but would like the assistance of a professional to lodge your tax return, then you can do an online consultation with a tax agent and have them prepare your return from there. It’s cost-effective, time efficient, and you have the assurity that a professional will look after the fine details. Just have your Tax File Number ready, and your documents in order, and you can book a time for an initial consult here. With access to this from the convenience of your home or office and a 1-2 week turnaround on tax refunds, we take the stress out of tax time. You will be amazed at how quickly this process will occur, but how effective it will be in delivering the best tax service possible.

Whichever way you choose to lodge, using a tax agent like Tax Store can remove the challenges of tax time, ensuring the best return for you.It also means you can lodge your tax return later than normal (cut off date is 31st October for self-lodgers) - in fact, up to as late as mid-May.

Call us today if you want to find out more about how you can lodge your tax return online but not alone!