In a word? Yes. Even though you’re paying tax preparers to do online tax for you, you’re still saving money in the long run (even though you’re paying them). This sounds like backwards logic, but it’s completely true! In fact, right now, if you don’t lodge your tax online, you’re probably hurting yourself and costing yourself money.
Here’s why:
First off, there are two types of tax lodgers: people who do it themselves and people who don’t. Let’s address those who don’t–the type of person who normally finds a local tax agent and has them lodge their taxes for them. This person is used to spending money to get their taxes done. To save money lodging online tax all they have to do is compare the rates of some of the websites to the rates of their tax agents.
Chances are, unless the tax agent is very cut rate (or a bit dodgy), the online tax service is going to be loads cheaper. For those of you who normally go to a tax agent to lodge, try doing it online this year. It might be a little more involved, but that’s not a bad thing. You’ll have a better appreciate of your finances, complete control over what happens, and you’ll save money. What could be better? What’s more, it’s a quick process, usually lasting no more than 40 minutes.
And time is why the first group, those who usually lodge tax on their own, should try lodging online tax this year. Because, well, even if you’re a maths whiz, lodging tax takes a while. It takes finesse. It takes making sure your papers are organized (and, well, most of don’t have the time to do that). In short, it takes a while. Hours, even. Which are hours you could be spending earning money or playing with the kids or having a drink or doing anything other than taxes. Time is money, and when you do your taxes on your own, it takes a lot of time. When you lodge online tax it takes almost no time. Lodging taxes online saves you time–ergo, it saves you money.
Computers and the internet mean that we don’t have to do taxes by hand anymore, cramped over a table, cursing the ATO. It means we can get them done in mere minutes and then go off and have fun! And, by giving us the time to have fun, it also gives us money we wouldn’t have. Money in our pockets (whether by getting us more tax back or by saving us hours of our day). No matter what kind of tax lodger you are, trying doing online tax this year. You’ll be pleasantly surprised.
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