Taxes – they’re not exactly anyone’s favorite topic. However, submitting your tax returns is an important part of your financial management. Fortunately, there are a few ways that you can submit your tax returns. Today, as a premium quality taxation support provider, our team of international tax specialist here at Wealth Safe is on hand. No matter what you need for your tax returns, we are here to help you find the best solutions for all of your taxation needs. So, to find more about the best way for you to submit your tax returns, read on or give our team a shout today!

Options for Submitting Tax Returns

As explained by the ATO, “You can lodge online using myTax, through a registered tax agent or complete a paper tax return. Your tax return covers the income year from 1 July to 30 June. If you need to complete a tax return, you must lodge it or engage with a tax agent by 31 October. When you lodge a tax return, you include how much money you earn (income) and any expenses you can claim as a deduction.”

The Three Tax Return Options

So, at this point, we need to clarify the different options for filing your tax return. Indeed, you must choose an option that will work for your tax return needs – and these options are as follows.

The most common way to lodge a tax return is to do so online. Indeed, you can lodge your tax return online with the myTax website quickly and efficiently, and that’s why the majority of people choose to submit their tax returns in this way.  As such, if you have been considering submitting your taxes and have good access to the internet, then online tax returns could be the most efficient and effective solution.

A second alternative could be to lodge your tax returns with a registered tax agent. The tax agent will charge you a fee and, in exchange, prepare and lodge the tax return on your behalf. It’s always vital that you choose a registered tax agent, as failing to do so could prevent your tax returns from being submitted legally.

Finally, you could file a paper tax return. This option generally falls out of favor these days, with many people preferring to submit their tax returns online. However, if you prefer to complete a paper copy of the tax return, then this is still an option that you could consider. The paper tax return form can be used for lodging tax by mail. Following this, refunds will usually be payable within 50 business days of the tax return being lodged.