ECI allows you to lodge bulk data and employer obligation reports, such as TFN Declarations, PAYG (W) Payment Summary Annual reports, AIIR reports and some superannuation reports in a single transaction.
Large corporates, bookkeepers and BAS Service Providers can also use it to lodge multiple activity statements in a single transaction.
If you are a sole trader running your own business, and you prepare your individual tax return yourself, why not consider using e-tax. It’s free and it lets you prepare and lodge your individual tax return online. It also allows you to download your personal tax information directly into your return making it easier to meet your tax obligations and claim your entitlements.
Information that can be downloaded into your return using e-tax includes:
Pay as you go withholding (PAYGW) payment summaries
government payments, including pensions and allowances
interest income from all your accounts, including interest from savings, term deposits and joint accounts
dividend income
Medicare information including total medical expenses
e-tax is also fast, with most refunds received in 14 days or less.
You will need your Notice of Assessment to use e-tax if you have previously lodged a tax return.
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You will need your Notice of Assessment to use e-tax if you have previously lodged a tax return.