Latest news with #MyTax
Sydney Morning Herald
09-07-2025
- Business
- Sydney Morning Herald
Do you really need an accountant to do your tax return?
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. If no one has done so yet, let me be the first to wish you a happy end of financial year, a day I'm sure you've been counting down to on your calendar, staring wistfully out the window as you awaited its arrival. Well, wistfully stare no more, as we are officially in the 2026 fiscal year, and as the saying goes, it's tax return time baby! If you don't think about all the tax you've paid for the past 12 months, getting your tax return is basically like free money (unless you end up owing tax, in which case, I have no silver lining for you). Plus, with the awful weather in Sydney and Melbourne at present, what better time to curl up on the couch and start tallying up your deductions? You could even invite a friend! What's the problem? I am embarrassingly eager to do my return (if that's not obvious), but not everyone is so crazy about the idea. Data from the ATO shows about two thirds of Australians pay a tax agent to handle their affairs, while the remaining third of us do it ourselves. If that sounds like a lot, that's because it is − Australia has one of the highest rates of tax agent use in the OECD. Loading The Tax Office doesn't break down that data by age, but I'd bet that most people employing tax agents would be on the older side, while younger workers are more likely to do it themselves. There are a few reasons for this, one of the biggest being that the online tax lodgment service, MyTax, has only been around for a decade or so, and its e-Tax predecessor was by all accounts a complete nightmare.
The Age
05-07-2025
- Business
- The Age
Do you really need an accountant to do your tax return?
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. If no one has done so yet, let me be the first to wish you a happy end of financial year, a day I'm sure you've been counting down to on your calendar and staring wistfully out the window as you await its arrival. Well, wistfully stare no more, as we are officially in the 2026 fiscal year, and as the saying goes, it's tax return time baby! If you don't think about all the tax you've paid for the past 12 months, getting your tax return is basically like free money (unless you end up owing tax, in which case, I have no silver lining for you). Plus, with the awful weather in Sydney and Melbourne currently, what better time to curl up on the couch and start tallying up your deductions? You could even invite a friend! What's the problem? I am embarrassingly eager to do my return (if that's not obvious), but not everyone is so crazy about the idea. Data from the ATO shows roughly two thirds of Australians pay a tax agent to handle their affairs, while the remaining third of us do it ourselves. If that sounds like a lot, that's because it is − Australia has one of the highest rates of tax agent use in the OECD. Loading The tax office doesn't break down that data by age, but I'd bet that most people employing tax agents would be on the older side, while younger workers are more likely to do it themselves. There are a few reasons for this, one of the biggest being that the online tax lodgement service, MyTax, has only been around for a decade or so, and its e-Tax predecessor was by all accounts a complete nightmare.
The Star
06-06-2025
- Business
- The Star
LHDN: Digitalisation makes everything easier for taxpayers
KUALA LUMPUR: The Inland Revenue Board's (LHDN) drive for comprehensive digital transformation aims to simplify matters for taxpayers and increase compliance levels. LHDN chief operations officer Marsidi Zelika, who disclosed this, said the digital transformation not only focuses on migrating services to online platforms but also on changing the work structure, mindset and operational strategy to ensure more efficient and user-friendly tax services. 'It includes systems such as MyTax, ByrHASiL, e-Filing and now e-Invoicing, all created for taxpayers to manage their tax affairs promptly, easily and securely without having to go to the counter,' he said during Bernama TV's Ruang Bicara programme, which aired on Wednesday night. Marsidi said the e-Filing system, for example, was equipped with automatic calculation and final review functions to help users avoid common mistakes such as incorrect tax calculations and incomplete data. 'The data integration function, automatic verification and use of a single identity-based system through MyTax ensures that taxpayers' information is consistent and easy to track,' he said, adding that the system was also linked to the monthly tax deduction (PCB) information from employers. He also said the implementation of e-Invoice, which started last August in phases, has received an encouraging response mainly from small and medium-sized businesses. As of June 4 this year, he said more than 313.4 million e-Invoices have been recorded involving 33,391 taxpayers. 'This clearly shows a very positive reception for this digital initiative,' he added. Marsidi said the e-Invoice did not just replace printed invoices but also opened up opportunities for micro, small and medium enterprises (MSMEs) to restructure their business accounting systems more systematically and effectively. The MyInvois portal and application, which are offered for free, allow users to access, send and store transaction documents digitally, thus reducing the risk of losing documents and speeding up administrative matters. He said LHDN also provides a one-stop reference centre through the e-Invoice microsite as well as guidelines, video tutorials and an e-Invoice help desk, besides the e-Invoice counters at its tax offices.
Barnama
05-06-2025
- Business
- Barnama
Tax Digitalisation To Simplify Taxpayers' Affairs, Increase Compliance
GENERAL KUALA LUMPUR, June 5 (Bernama) -- The initiative by the Malaysian Inland Revenue Board (IRB) in driving comprehensive digital transformation will simplify taxpayers' affairs nationwide, thereby increasing compliance levels. Its Chief Officer of Operations, Marsidi Zelika, said that the digital transformation does not only focus on migrating services to online platforms, but also involves changing the work structure, mindset and operational strategy to ensure more efficient and user-friendly tax services. 'It includes systems such as MyTax, ByrHASiL, e-Filing and now e-Invoicing, all created to enable taxpayers to manage their tax affairs quickly, easily and securely without having to go to the counter,' he said. He said this when appearing as a guest on Bernama TV's Ruang Bicara programme, with the title 'Digitalisation of HASiL: Simplifying Taxpayer Affairs', last night. He said that the digital system, such as e-Filing, which is equipped with automatic calculation and final review functions, helps users avoid common mistakes such as incorrect tax calculations and incomplete data. 'The data integration function, automatic verification and the use of a single identity-based system through MyTax ensure that taxpayers' information is consistent and easy to track,' he said, adding that the system is also linked to Monthly Tax Deduction (PCB) information from employers. Touching on the latest initiative, Marsidi said the implementation of e-Invoice, which started in August last year in phases, has received an encouraging response from the public, especially small and medium-sized businesses. 'As of June 4, 2025, more than 313.4 million e-Invoices have been recorded involving 33,391 taxpayers. This clearly shows a very positive reception for this digital initiative,' he said. According to him, the implementation of e-Invoice does not just replace printed invoices, but also opens up opportunities for Micro, Small and Medium Enterprises (MSMEs) to restructure their business accounting systems more systematically and effectively.
The Star
05-06-2025
- Business
- The Star
Digitalisation makes it easier to file taxes, increases compliance, says LHDN
KUALA LUMPUR: The comprehensive digital transformation initiative by the Malaysian Inland Revenue Board (LHDN) will simplify taxpayers' affairs, thereby increasing compliance. LHDN chief operations officer Marsidi Zelika said that the digital transformation does not only focus on migrating services to online platforms but also involves changing the work structure, mindset and operational strategy to ensure more efficient and user-friendly tax services. "It includes systems such as MyTax, ByrHasil, e-Filing and now e-Invoicing, all created to enable taxpayers to manage their tax affairs quickly, easily and securely without having to go to the counter," he said on Bernama TV's Ruang Bicara programme. He said that digital systems such as e-Filing, which is equipped with automatic calculation and final review functions, helps users avoid common mistakes such as incorrect tax calculations and incomplete data. "The data integration function, automatic verification and the use of a single identity-based system through MyTax ensure that taxpayers' information is consistent and easy to track," he said, adding that the system is also linked to monthly tax deduction information from employers. Touching on the latest initiative, Marsidi said the implementation of e-Invoice, which started in August last year in phases, has received an encouraging response from the public, especially small and medium-sized businesses. "As of June 4, 2025, more than 313.4 million e-Invoices have been recorded involving 33,391 taxpayers. This clearly shows a very positive reception for this digital initiative," he said. According to him, the implementation of e-Invoice does not just replace printed invoices, but also opens up opportunities for micro, small and medium enterprises (MSME) to restructure their business accounting systems more systematically and effectively. The MyInvois portal and application, which are offered for free, allow users to access, send and store transaction documents digitally, thus reducing the risk of losing documents and speeding up administrative matters. To ensure compliance with the new system, Marsidi said LHDN also provided a one-stop reference centre through the e-Invoice microsite as well as guidelines, video tutorials and a 24/7 help desk, in addition to counters at all LHDN offices. "We would like to encourage taxpayers, especially MSME, not to wait until the last minute. Start preparing now, access all available guidance, and if there is any confusion, contact us. LHDN is always ready to help," he said. Marsidi emphasised that the digitalisation efforts implemented by IRB are in line with the National Digital Economy Blueprint (MyDigital) and the government's aspiration to empower the public sector holistically through technology. "We hope to develop a tax service ecosystem based on convenience, trust and security. Our focus is to provide borderless services that can be accessed from any location, at any time," he said. He also called on all taxpayers to take full advantage of the digital facilities provided and support the digitalisation of public services. "Use MyTax, e-Filing and MyInvois to make your business easier. Together, let us make this digital transformation a success for a more efficient and transparent Malaysia," he said. – Bernama
