Personal tax return is an official form containing information about one’s income, property and tax. Likewise, personal lodge tax return online is an official form which contains all information regarding lodging of an individual’s personal income, property and tax.
How to lodge personal tax return?
Online way is the easiest way to lodge your personal tax return. Only thing you have to do is to log in to any app verified with federal government, complete the personal log tax return form, and submit it using a register tax agent.
If your total income for the whole year is not more than a certain amount then you do not need to pay personal tax or do not need to file lodge personal tax return? Your total income required to be taxable depends upon the nature of the income (whether it is from a running business or from the rent of any immovable property), your age and your status.
Need to lodge personal tax return:
If you want to get back the tax you have paid then you must have to file for personal lodge tax return online or by mail. Even though you pay your tax from your income of whole year according to latest rules, you must lodge your personal tax return. You will surely get your tax paid a year back.
If your pension is your source of income then you must lodge your personal tax return to get your tax back which will be much beneficial for you. If your source of income is other than pension like employment, salary, rent paid from your immovable property then you must file for lodge personal tax return.
You can also file for lodge overdue tax return and business tax return in order to get back your paid tax. The only thing you need for this is to file for it online and then pay some challan.
When you can lodge personal tax return?
Financial year for tax is from 1st July to 30th June, so you can file for lodge personal tax return online anytime in the year.
Who is eligible for lodge personal tax return?
You can file for personal lodge tax return if you fulfil following conditions:
- If you’re total annual income is more than a certain amount declared by the federal government.
- If you have filed prior year tax return.
- If you are running a business (small or large) regardless of profit or loss.
- If you have been asked by commissioner to file return.
If you have filed your prior year tax return then you must file for lodge tax return. If you have overdue tax return then firstly you have to pay all the dues then file for lodge. You can also file for lodge business tax return. For more information visit our website: ezytaxonline.com.au