21 April 2016

myTax expanded to sole traders and contractors

The Minister for Small Business and Assistant Treasurer the Hon. Kelly O’Dwyer has announced that sole traders and contractors will be eligible to use the tax return “myTax” from 1 July this year.

Minister O’Dwyer confirmed that all individuals are now eligible to use myTax, and the ATO is aiming to deliver a quicker and easier experience for all taxpayers filing their tax return online.

“Over 1.7 million individuals lodged their tax return using myTax last year and this number is expected increase this year,” Minister O’Dwyer said.

“With its expanded eligibility, over three million individuals and sole traders are expected to lodge their tax return using myTax this year.

“Sole traders can look forward to a streamlined, contemporary online experience for lodging their tax return.

“Launched in 2014, myTax is the quick and easy way to lodge and is personalised to your circumstances.

“Further to this, most of the information for myTax is pre-filled and can be accessed from almost any device connected to the internet.

“Sole traders and contractors will be able to access new online tools to assist with more complex parts of their tax return, for example personal services income, depreciation, and the small business income tax offset.

“I encourage all individuals and sole traders to try out myTax,” Minister O’Dwyer said.

MyTax is accessible to sole traders through their myGov account.