myTax ATO 2021

Taxpayers need to follow steps to do a tax return for 2020-21 using my Tax or you can come to office at Tax Return On Spot.

To do tax return for 2020-21, Follow the tax return details for free estimation:

• Fill your basic updated detail in form for 2021
• Income:

Income includes payment summary, FHSS scheme payment, Employment termination payments and personal service income. There are some other payments which are provided to their citizens as allowances like Government allowances and payments, pensions and allowances. Australian Super and annuity payments include super lump sum payments, if you invest money for extra income like interest, dividend, rent and capital gain or loss when you sell the property. Any business income and foreign income come under the income section. You must have to disclose any of the above-mentioned payments under the income section for this year 2020-21.

• Put deduction according to your income for 2020-21:
  Taxpayers can put deduction as their income. Taxpayers can put deductions like car expenses if used for business purposes, travel expenses, job uniform, clothing and laundry expenses can be claimed. Self-education expenses also claim a deduction. If you pay tax fees to an agent in the past financial year for 2019-20 you can claim fees as well.
• Details about Medicare levy and private health insurance if you have: 
  Australian health system provide Medicare to their citizens which cover health and cost to Australian resident. The Medicare levy charges 2% of your assessable income.  ATO will give you a Medicare levy exemption but you need to prove that you have not carried a Medicare card and you have only private health cover. The Medicare levy you must pay to the government is the same as income tax. Medicare levy will be calculated by tax agent when you lodge the tax return 2020-21. In addition, if your spouse and your dependent have private health insurance but income is above a certain threshold, so you may have to pay a Medicare levy surcharge.  However, your spouse or any dependents have private health insurance, you don’t need to pay Medicare levy surcharge and you will be entitled to get private health insurance rebate. This rebate is given by the government and costs towards private health insurance premiums. You may be eligible to get exemption for part or full time of the year.  You need to provide information in your tax return for the 2020 21 financial year.              
• Fill out details of private health insurance if you have
• Spouse details
• Reporting Non- resident foreign income
• Report franking credit

We are registered tax agents; you can contact us for tax return 2020-21. We can provide a free estimate and more refund.

You can book FREE* consultation with our expert and ask your query about refund.