ETax review – Australian tax return software

ETax is a tax return preparation and lodgement service that can take the worry out of getting your tax return right. While you can fly solo and do your own return at the ATO via MyGov, they don’t give you advice and support, which may make using an online service like E Tax worthwhile.  

Verdict: If you decide you want to pay for a tax agent rather than doing it free through the ATO, E Tax are a solid choice for basic tax refunds.

E Tax is a tax agent company that can take the stress out of tax time for individual tax returns, as well as small businesses.

Every year like clockwork June 30 rolls around heralding the end of the financial year and the coming of tax time. In Australia, the ATO has many resources to help you prepare and lodge your tax return online via MyGov. However, it’s important to get it right, and many turn to a registered tax agent to help make sure they get their tax return right and claim the deductions they’re entitled to.

E Tax is an online tax preparation and lodgement platform that offers support from qualified tax accountants. Many people don’t have specialist tax knowledge and using a tax agent site like E Tax can take the worry out of tax preparation, which can give individuals peace of mind during tax season.

For more info on taxes, you can listen to my podcast with Minh where we discuss taxes, tax returns and deductions.

CaptainFI is not a financial advisor and this article is not financial advice. This website is reader-supported, which means we may be paid when you visit links to partner or featured sites, or by advertising on the site. For more information please read my Privacy Policy, Terms of Use, and Financial Disclaimer.

What is Etax?

ETax is a website and mobile phone app for doing your tax return online. E Tax is an accounting practice with registered certified practising accountants (CPAs) and is registered as a tax agent.

E Tax was started in 1998 and has been helping Australians lodge their tax return for almost 25 years. E Tax aims to keep tax returns simple and help get your tax refunds fast.

How does E tax work?

E Tax is a website and mobile phone app for lodging your tax return.

When it comes to using ETax, the first step is to sign up as an E Tax user and open an Etax account. Make sure you get your documents prior to sitting down to start the process. From there, you enter your tax file number and the next step is to enter your occupation, which later helps identify deductions you may be eligible for. You are then able to enter your income, tax deductions and “other” items such as health insurance or whether you have a spouse.

You don’t need to provide a lot of information as once you give your tax file number, E Tax can pre-fill a lot of your tax info directly from the ATO. This includes your income and the tax that has already been taken out by your employer.

When it comes to providing copies of your receipts for tax deductions, E Tax lets you upload files so your records are attached to your return.

“The ATO confirms that most taxpayers prefer to use a tax agent like Etax to lodge their tax return. The majority of tax returns are done this way.”

etax.com.au

How much do E Tax charge for a tax return in Australia?

E Tax offers a range of services with different fees:

·        Fee from Refund service – from $27.50 (No fees up front)

·        Capital Gains (including crypto) – from $49.90

·        Fast E Tax Returns – from $78.49

·        Low income service – from $44.90

·        Business tax returns – from $195.90

As well as low fees, E Tax doesn’t charge for services such as deductions and redundancy payments, when other tax agents may.

The final fee you pay depends on the services you use and whether any changes need to be made after your return is lodged with the ATO. You can pay by credit card, money order, cheque or choose the “fee from refund” option.

How long do returns take?

With E Tax, preparing your tax return can take just a few minutes.

If you lodge your tax return electronically with a tax agent like E Tax, the ATO can process your refund within 2 weeks. On average, a tax refund can be in your bank account within 6-10 working days.

E Tax points out that some tax preparation services offer an “instant refund”, which is a bit misleading as only the ATO can issue a tax refund. “Instant refunds” are usually short-term loans with high interest, and you can end up worse off, especially if the ATO doesn’t give you the refund you were expecting.

It’s worth being patient and waiting the 6-10 days for your tax refund, because let’s face it, you haven’t had that money all year, so what are a few more days?

What other services do E Tax provide?

E Tax offers the standard tax preparation and lodgement service that you’d expect from an online tax agent. However, they also offer a number of other services. This includes an online tax calculator which can give a more accurate estimate than the ATO’s simple tax calculator.

E Tax can also do business tax returns, as well as property schedules and calculating capital gains for investments like property, shares and cryptocurrency transactions.

E Tax also does an ATO compliance review of your return to reduce the chance of errors and reduce the risk of being audited by the ATO.

What support and services are included with E Tax? (are there real people to talk to?)

While E Tax is based online, your tax return lodgement fee includes support and service from qualified Etax accountants without having to make an appointment.

E Tax offers phone support, live chat online and a secure message services to help with preparing your tax return and lodging it with the ATO.

E Tax also provides a multi-cultural approach to tax return preparation by having a staff of qualified accountants that can speak a range of different languages.

What are the advantages of using ETax?

• Low cost
• Positive customer reviews
• Software is easy to use, even for a first timer
• Returns are lodged promptly
• Use the E Tax app during the year to record tax deductions as you pay for them
• E tax blog with helpful tax-related articles

What are the disadvantages of using ETax?

• Negative reviews from the US site, so make sure you check out the Australian reviews
• E Tax doesn’t offer an “instant refund” option, which may not be a bad thing if you can wait 6-10 days for your ATO refund
• You have to pay for lodging your tax return, which you can do for free through the ATO

“Annual upgrades and improvements at Etax are based on the kind, thoughtful feedback we receive from Etax users.”

etax.com.au

FAQs about ETax:

Are there any physical locations?

E Tax head office is based in Brisbane in Australia. E Tax is a website and mobile phone app, with no physical shopfronts or offices. With E Tax’s online service, there is no need for appointments.

E Tax has qualified accountants to provide service and support online from:

·        Monday to Thursday – 8 AM – 11 PM

·        Friday – 8 AM – 9 PM

·        Saturday 9 AM – 6 PM

·        Sunday 9 AM – 8 PM

Do I have to pay upfront?

E Tax offers a ‘fee from refund’ service. This means you do not have to pay upfront to lodge your return. E Tax can then deduct your fee from your tax return when the ATO pays it.

It costs an additional $27.50 to use the “fee from refund” service, so if you did a Fast E Tax Return at $78.49, with the “fee from refund” charge, it would be $105.99 deducted from your tax return. You can then claim the fee as a deduction for the cost of managing your tax affairs, in your next tax return.

Is E Tax safe?

E Tax is a legitimate tax agent and their software keeps your personal information secure. E Tax has a similar level of information security used by banks for encrypting personal information.

E Tax is audited for privacy and security every year, to give you peace of mind that your information is protected.  

How popular is E Tax.com.au?

E Tax is an established online tax preparation and lodgement service in Australia. E Tax claims to be the No 1 online tax agent since 1998, and to back that claim, E Tax won the CANSTAR “Most Satisfied Customer” award multiple times.

E Tax also won the Product Review award in 2020, 2021, 2022 and 2023.

So is E Tax popular? With positive reviews and independent awards, it seems like they’re doing something right!

Is it easy to use E Tax?

 The E Tax online platform and mobile phone app are easy to use. Their service is backed up by ready access to senior accountants to answer your questions by phone or through online live chat.

Conclusion

For some people that don’t have a head for numbers, legislation and tax jargon, E Tax is a tax preparation and lodgement service that can take the stress out of tax time, giving you a healthier work life balance.

E Tax is an established business that has positive reviews by many Australians for their great service.

While you can prepare and lodge your ATO tax return for free via MyGov, some may find E Tax an affordable and stress-free way to manage their taxes and tax affairs. After all, nobody wants missed deductions!

Financial Disclaimer

Financial Disclaimer: CaptainFI is NOT a financial advisor and does not hold an AFSL. This is not financial Advice!

I am not a financial adviser and I do not hold an Australian Financial Services Licence (AFSL). In this article, I am giving you factual, balanced information without judgment or bias, to the best of my ability. I do not know your personal circumstance or financial situation. I am not giving you any general or personal financial advice about what you should do with your investments. Just because I do something with my money (or use a particular service or platform) doesn’t mean it is automatically appropriate for your personal circumstances. I do not recommend nor endorse any financial or investment product, and my usage or opinion of any product should not be interpreted as an endorsement, advertisement, or intent to influence.

I can only provide factual information based on my journey to Financial Independence, and that is provided for general informational and entertainment purposes only. I make no guarantee about the performance of any product, and although I strive to keep the information accurate and updated as it changes, I make no guarantee about the correctness of reviews or information posted. When it comes to investments, past performance is no indicator of future performance as returns can be volatile, reflecting rises and falls of the underlying investments.

Remember – you always need to do your own independent research and due diligence before making any transaction. This includes reading and analysing Product Disclosure Statements, Terms and Conditions, Service Arrangement and Fee Structures. It is always smart to compare products and discuss them, but ultimately you need to take responsibility for your use of any particular product and make sure it suits your personal circumstances. If you need help and would like to obtain personal financial advice about which investment options or platforms may be right for you, please talk to a licensed financial adviser or AFSL holder – you can take the first steps to find a financial advisor by reading this interview, or by visiting the ASIC financial adviser register and searching in your area.

For more information please read my Privacy Policy, Terms of Use, and Financial Disclaimer.