Tax Return Calculator
According to Tax Commissioner Michael Carmody, almost as many people preparing their own income tax returns are doing so electronically or by phone instead of by paper. This year, about 1 million taxpayers are expected to lodge electronically or by phone, and this number will continue to increase in the years to come. With the introduction of tax return calculators throughout the internet, people have been able to estimate the tax liability prior to lodgement to the Australian Taxation Office (ATO).
There are a number of tax return calculators available on the internet. The ATO’s version, e-tax, is well known and provided freely. There are also a number of “try for free” income tax calculators that were created by private businesses employing accountants and software developers. The primary advantage to using the ATO’s online tax calculator is that you can lodge your return at no cost. However, the primary drawback to self-preparing your return by e-tax is that it is not in the ATO’s best interest to give you the best advice to improve your tax situation. Also, since you are dealing directly with the ATO, you will not have anyone to represent you in case there is an audit of your tax return.
In 2007, E-lodge Taxation Services Australia (E-Lodge) introduced a comprehensive tax return calculator after intense market research, web development, and testing. The result is the fastest and simplest income tax calculator online. The Australian Taxation Office (ATO) has a number of criteria for determining deductions, offsets, dependent eligibility, etc. While too many tax return calculators follow the exact structure of the ATO’s complicate tax code, E-Lodge’s tax return calculator only asks the relevant questions to determine your qualifications. You can also feel at ease that your information is kept completely secure as all data is encrypted through secure socket layers (SSL), and your information is transmitted to the ATO by the same technology used by banks. Lastly, since your return will be reviewed by an accountant, you avoid the headaches of an ATO audit and missed deductions or offsets. Feel free to try E-lodge’s tax return calculator as it is free to try, and we also offer free live tax advice through our secure chat interface while you are filling your information online.
