Its getting to be That time of year again. Cold winter days and a large collection of pieces of paper. I heard; this year is different. The Govt. works out your taxation level. You agree with their calculations and accept their refunds or submit your own paperwork. Questions: Is this system only for income tax? How does the Govt know your financial details? Will I still need to visit my accountant? Is the new system faster(for refunds)? Thanks, Johny.
Believe you are referring to accepting a 'one size' income tax deduction when lodging your income tax return - applies from 1 July 2012, so it will be 30 June 2013 when this takes effect
