Is myTax still self-assessment?
Yes. Under the self-assessment system, you take responsibility for declaring all your income and for the claims you make when you sign your tax return. This includes if you sign it using an electronic signature.
If we pre-fill your tax return with information provided to us by your employer or other organisations, you are also taking responsibility for the correctness of that information when you sign it.
We will issue a notice of assessment to you, usually without adjustment. However, your return may still be subject to review.
If you become aware that your tax return is incorrect, you will need to lodge an amendment.
Is the information I show include in myTax matched against the information that is pre-filled?
Yes. We routinely match information to identify discrepancies between what is shown on your tax return and the information provided to us by employers and other organisations. Therefore, if the information that pre-fills is different to your statements and records you should follow that up with the organisation that provided the information. They may need to report amended information to us.
Will I be penalised if something is missing?
Where we detect errors after we have issued your assessment, we will contact you and may issue an amended assessment. You will be obliged to repay any tax owing, and any interest and penalties we may impose. If you have overpaid your tax, we will pay you interest on the overpayment.
If you voluntarily disclose mistakes in your return we will take that into consideration.