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3 Easy Steps to File Your First Tax Return in Sydney Online

In Australia, tax returns cover the financial year from the 1st of July to 30th of June every year. And the due date for tax return in Sydney is the 31st of October each year.

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3 Easy Steps to File Your First Tax Return in Sydney Online

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  1. 3 Easy Steps to File Your First Tax Return in Sydney Online In Australia, tax returns cover the financial year from the 1st of July to 30th of June every year. And the due date for tax return in Sydney is the 31st of October each year. Every business owner, whether they are new or established one, has to pay the tax on the income they earn from their business. If you are going to lodge your tax return and pay the tax for the first time, you have two options for it – DIY using ATO website and hire a registered tax agent. When you opt for DIY, you can do it online with the option Lodge online with myTax. Here are the steps for this process: 1. Create a myGov account On the official website of the Australian Taxation Office (ATO), you will find an option Create a myGov account. myGov is a simple and the fastest way to access the services of the Australia Government online. A secure myGov account helps to

  2. get connected to an extensive array of services of the Australian Government with a username and associated password, in a place. Further, you need to make it sure that you have added your mobile number to receive codes via SMS as your sign-in option for myGov. With it, you can easily and quickly access the online services of the ATO. You can regenerate your username or password if you forget the same. 2. Link your myGov account to the ATO On the home page of myGov, you will have a tab for Services. You have to choose Australian Taxation Office. As you select it, you will be directed to a page that will ask you to update your sign-in option and utilize the security codes if you haven’t added your mobile number till now. Follow the instructions and provide the requisite information, such as your name, date of birth, and tax file number. After that, you will have to answer a few questions on the page to verify your identity. The questions can related to a supper account statement for the last five years, a notice of assessment, a PAYG payment summary, and a central link payment summary. The bank account you select for verification, it should be the one that you used in the past or will use in the future for filing your tax return in Sydney and paying the tax, individual or business tax. 3. Lodge with myTax As you link your myGov account to the Australian Taxation Office, you will be able to access myTax via ATO online services. To lodge your tax return and pay the tax, you have to click on the Lodge button. After clicking the button, you can file the form and pay the tax by following the instructions mentioned there. Conclusion Lodging tax return and paying the tax to the ATO is a little tricky job, especially for the one who is doing it for the first time. Using ATO online services can be hard for you if you have no accounting and tax knowledge. Get in touch with a registered tax agent in Sydney to lode your tax return and pay the requisite tax to the ATO. Have a peace of mind.

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