To date, 476,629 tax payers have logged on to the eTax system to lodge their returns since the end of the 2001/2002 financial year, and as the October 31st deadline draws closer, eTax director Nicki Haisman is expecting over approximately 24,000 users per day to log on.
"We are expecting quite a few people over the last two days," Haisman confirmed. "Although the eTax facilities will still be available through to early December for late lodgements."
The number of people logging on to the eTax system to file a tax return for 2001/2002 to date is already more than double the number who logged on to file their returns for 2000/2001.
ATO calculations suggest the Internet-based tax return lodgement system saves the department approximately AU$6 - AU$7 per user. The ATO also offers to process the tax return up to four weeks before its on-paper counterpart.
While the eTax system operates separately from the electronic lodgement systems used by tax agents and chartered accounts, when combined, these systems account for over 95 percent of all tax returns lodged in Australia.
Paul Drum, senor tax counsel with Certified Practicing Accountants (CPA) Australia says although only 50 percent of tax agents use the electronic lodgement system, these agents are responsible for over 97 percent of the total returns lodged.
"The system is extremely popular and has been operating for a number of years now," Drum said. "Of the 50 percent of tax agents that don't use it a lot of them only lodge a couple of returns a year, so its not their main focus."
He describes eTax as a "very useful medium to quickly lodge tax returns", he advises tax-payers to go through registered chartered accountants rather than tackle their own return.
"Its alright it you have no kids, no investments and a straight payment summary, but as soon as you start to get some turns and pikes you could be doing yourself a disservice by not contacting a professional," Drum said.
