You can easily and safely access your tax information online, wherever you are — all you need is an internet connection. Your tax information is secure and only accessible to you. In the majority of cases, you can also easily update your information and circumstances online — no more waiting in queues or being put on hold.
Your myGov account comes with an inbox — letters and notifications, from all linked services, come to this one place, rather than in the post. This is a pretty crucial change because the tax office is phasing out correspondence, like Notice of Assessments and Instalment Activity Statements, by mail. With myGov, it’s easy to receive updates and important notices all aspects of your tax. This is to help you manage your tax and super affairs in one place, making record keeping easier and more secure.
Because myGov is government-run — like the ATO — tax returns are streamlined with an online program called myTax. With myTax, much of the information is accurately prefilled for you. This includes information from your employers, banks, government agencies, health funds, and other third-parties, saving you significant time.
Lodging online with myTax is the quick, easy, safe and secure way for you to prepare and lodge your own tax return. However, many individuals choose to use an Accountant to assist with the lodgement, to ensure you’re maximising your return.
Moving forward, the ATO with only communicate through myGov, so we strongly recommend setting up your myGov account and linking the ATO. To avoid late lodgment or payment penalties, you need to get setup ASAP.