End of the tax return?

The annoucement that tax returns may no longer be necessary for the vast majority of taxpayers has been applauded by many as a sensible by overdue change. The average tax return now takes, for a pay as you go taxpayer, in excess of eight hours.

The proposal is the ATO will send the taxpayer a pre completed tax return and will assume a level of tax deductions, proposed to be $500, for the taxpayer to sign and return.

This will not help people with deductions of more than $500 a year.

Of course nothing is simple with the ATO, and we wait patiently for the detail to be provided.

Related posts:

1. Tax bonus: you must have lodged a 2007-08 tax return
2. Telstra needs to return to the negotiating table: Saffin
3. Surf lifesavers return to our beaches this weekend

Related Articles:

Related posts:

1. Tax bonus: you must have lodged a 2007-08 tax return
2. Telstra needs to return to the negotiating table: Saffin
3. Surf lifesavers return to our beaches this weekend