With the first month of tax time behind us the ATO is reporting a significant increase in the
number of electronic lodgements as an expanded suite of online services strike a chord
Now in its second year, the streamlined online tax return myTax has received almost
800,000 lodgements, more than double the amount lodged at the same time last year.
Assistant Commissioner Graham Whyte said it was pleasing to see so many taxpayers using myTax
to lodge their return. “The vast bulk of the pre-fill information we use has now been supplied
to us, so if you haven’t lodged already, you’ll probably find most of your myTax return
has been completed for you.
“This includes things like salary and wage info, bank interest, private health insurance, spouse
details and other government payments.
“All you need to do is check the data, add in your deductions and you’re done.”
Your tax made easier with myDeductions
The ATO has launched a refreshed version of its app to introduce myDeductions, a brand
new online tool designed to help Australians keep track of their deductions by allowing
them to capture expenses on the go.
With almost 10 million Australians claiming over $24 billion in deductions each year, Assistant
Commissioner Graham Whyte said myDeductions was going to make life a lot easier
come tax time next year.
Use myDeductions to keep records of:
- Work-related car expenses – manage your car trips using point-to-point, odometer method
or keep an electronic log book.
- Work-related travel expenses such as public transport, air travel and taxi fares, bridge
and road tolls, parking fees, meal, accommodation and incidental expenses incurred
while travelling for work.
- Work-related clothing, laundry and dry-cleaning expenses, for example protective clothing,
uniforms, occupation-specific clothing, and laundering or dry-cleaning such clothing.
- Work-related self-education expenses such as costs of attending seminars, conferences or
- Other work-related expenses such home office expenses (mobile phone, internet).
- Gifts and donations.
- Cost of managing your tax affairs.
The ATO app is free and available in Apple, Android and Windows stores.
More information on myDeductions, including how-to videos, is available on the
One thousand volunteers to offer help this tax time
Around Australia the ATO has opened the doors to its Tax Help centres.
Assistant Commissioner Graham Whyte said almost 1,000 volunteers from 700 community centres
across Australia will be supporting people who need assistance completing their tax returns
this year. People earning less than $50,000 each year and with straightforward tax affairs
are eligible to use the Tax Help service.
Tax Help is available each year until 31 October. To find out if you are eligible, go to the
ATO website or phone 13 28 61 to make an appointment
at your nearest Tax Help centre.
Fuel tax credit rates
Fuel tax credit rates will increase for fuel acquired from 1 August 2015.
Rates are indexed twice a year in line with the consumer price index (CPI) – in February and
Check fuel tax credit rates online before completing your BAS.
Before completing your BAS check on line for the current rates. Use the fuel tax credit calculator
to help get your claim right.
The calculator helps you to work out:
- your fuel tax credits for fuel you acquire for use in your business
- adjustments for fuel tax credits from a previous BAS.
You can access the calculator on the ATO website or on the ATO app.
Taxable payments annual report due 28 August
A reminder for those of you in the building and construction industry that your 2015 Taxable
payments annual report is due 28 August 2015.
Here are some simple tips to help you complete the report.
- Check you correctly report each contractor’s Australian business number (ABN).
It’s best to check this each time you deal with a contractor during the year. You can use the
ABN lookup online or on the ATO app.
Include the total amount of GST you paid for the year for each contractor in the Total GST
Their invoices show the GST they charged you. You can check your contractor is registered for
GST on the ABN lookup.
- Complete amount fields correctly.
Show amounts in whole dollars. For example, if the total amount you paid a contractor during
the year was $13,579.20, ignore the cents and only include $13,579 on the report.
Why not make the process quick and easy this year by lodging online? All you need is an AUSkey
and business software that can generate the annual report.
Find out more on the ATO website.