Using your PC to help complete your tax return

One of the most taxing annual tasks is completing your tax return, but now that most of us have access to a PC and the Internet, things can be streamlined to the click of a few buttons.

Online help:

http://www.ato.gov.au - A general site which links through to various levels of tax help; individuals, businesses, students, etc. Get help with the TaxPack, pay your tax using BPAY, find out whether your return has been processed.

http://etax.ato.gov.au - download the Australian Tax Office's free software, e-tax to prepare your tax return using your PC, and then lodge it electronically.

The program asks you all the questions that appear on the tax return forms, but with hyperlink help along the way.

You'll need to verify your identity by providing details from your last notice of assessment, then you'll be given a digital signature to send with your electronic lodgement. You should receive your new notice within 14 days.

http://pfinance.yahoo.com.au launched on Monday this week, the site features a Tax Centre which includes tax tips, important tax dates, a fantastic checklist and a return calculator.

You can then click through to http://www.ereturn.com.au - If you'd like your electronic return to be checked by a professional tax agent before it is sent off, this site will do that for a fee of around $50. You also get access to phone help all year round, once you've registered.

http://www.etax.com.au - check out the Tax Help, Tax Tips and 'Ask a Tax Question' in addition to submitting your return online. Your submission will be checked by a qualified tax professional.

http://www.moneymanager.com.au - a great all round money site, especially in the Tax section where you can see answers to frequently asked questions, or ask your own. The Tax Factsheets are extensive and rich in content.

Software to help you next time:

http://www.quicken.com.au - small/home business owners will love QuickBooks, which I've been using for 5-6 years now. Enter all your business transactions from invoices to expenses, include the tax codes relevant to your business. Then at the end of every quarter, simply click the Activities menu and choose 'Business Activity Statement' for a 5 second calculation of your BAS. The new version (v8) also includes IAS to make things even easier. QuickBooks v8: approx $249

http://www.myob.com.au - another popular accounting package - go through the 'Test Drives' to find the right one for you. MYOB First Accounts: approx $200

Both packages can be ordered from Australia's International Software Warehouse at http://www.iswh.com.au

For my fact sheet archive, visit http://www.getmega.com/getmega/todayshow.html

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