How to access MyGov to complete Tax Return
NOTE:
Please note that this guide is intended ONLY for clients who have a simple situation such as:
1. Have earnt employment income well below the tax-free threshold (for example, earnt $10,000 of employment income) and have no other income (such as Managed fund investments, share dividends or Australian Government payments such as JobSeeker, pensions, etc).
2. Have a Managed Fund or share dividend income as their only income for the financial year. Where investments have Australian interests, franking credits may be available. Therefore, it may be beneficial to complete a tax return to claim those credits (and potentially receive a tax rebate).
If your situation is more complex, it may be beneficial to engage an Accountant to assist you. If you require an accountant, we recommend JKM Accountants https://www.jkmaccountants.com.au/. Please contact JKM Accountants on 07 4431 0333 and mention that you are a client of ours and would like to book an appointment to complete your Tax Return.
STEP 1: Log into myGov and access the ATO portal
STEP 2: Select 'Prepare'
STEP 3: Complete Tax Return
1. Contact Details
Check your contact details are up to date or update, if required.
Once updated, select 'Next'.
2. Financial institution details
Check your bank account details are correct or update, if required.
Once updated, select 'Next'.
3. Personalise return
Your employer will have reported your income to the ATO. This information will pre-fill.
It is important that you read carefully through the information and ensure it is correct.
IMPORTANT: If you have a managed fund or trust distributions (including where distribution has capital gains and foreign income), you should wait until your fund has released its tax summary (typically around August-October).
Examples of managed funds include CFS FirstChoice Wholesale Investment.
There are many links contained in the return to assist you and provide clarification.
If you believe your situation is more complex and you wish for an Accountant to assist you to complete your Tax Return, we recommend JKM Accountants https://www.jkmaccountants.com.au/. Please contact JKM Accountants on 07 4431 0333 and mention that you are a client of ours and would like to book an appointment to complete your Tax Return.
Alternatively, please always feel free to contact us and we will assist, where possible.