Jacob Fenech

It's now almost a monthly thing that you can actually go in and see your salary being tracked in your MyGov account.

So if you're someone that's got a relatively simple tax profile, we'd call it.

So just maybe some bank interest and...

some salary from a job, you can actually use the MyGov portal, which is free to set up, register for, to go in and file your tax return pretty quickly.

And so it's free to do.

You don't get the extension, so it means that your tax return is actually you need to file by 31 October.

If you're using a tax agent, you can get an extension, say, through to March or May of the next year, importantly.

So sometimes that's relevant for people.

But as I said, if you've got a simple tax profile, that could be an option for you.

Otherwise, there's a heap of variance out there in terms of who you can actually use and what justifies kind of

So I suppose bringing along an accountant to follow that on your behalf.

So if you do have, say, I would say for sole traders, particularly when they're starting out and finding their feet, it's probably useful to have an accountant, at least in the first instance.

to help file that first return so you make sure you're maximizing say your deductions you're filing GST where relevant all that sort of stuff I definitely think is helpful for the first year or someone that has say a more complex investment profile as well so maybe that's

managed trusts, maybe that's family trust, maybe that's dividends, whatever it might be.

I think, yeah, using an accountant, particularly knowing going into it that any fees that you're paying are tax deductible as well.

It makes it easy to swallow, I think, when you're kind of thinking, all right, if it's a couple of hundred bucks I'm paying, it's probably not the full bill at the end of the year that I'm actually, you can get some back on tax.

So I think that makes it a little easier.

But yeah, there's a couple of different ways to file.

I think it definitely depends on the individual themselves.

Yeah, I think so there's different ways depending on your structure, definitely.