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Re: can i do my tax return myself without an accountant. I can no longer afford one

I'm new

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I ran a business for many years and two years ago the company (PTY LTD) started to lose money.  the company today is insolvent and ASIC is in the process to deregister the company. I need to submit my tax return for the company as well as my personal tax return.  I am broke and cannot afford an accountant.  Can I do it myself?  I have all the data up to date on my QuickBook.  I need your advice on what to do. 

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Most helpful response

ATO Community Support

Replies 2

Hi @GB8,

 

Sorry to hear about your situation. You've got a few options to lodge both your personal and business tax returns. Pretty much you can do both via online services or through the paper forms. Online services are generally much faster, but you can choose to use paper forms if you like. 

 

We have a page on our website that explains how to lodge your company tax returns. There's a couple of links there that take you to either the paper form, or the process for setting up online services. 

 

As for your personal tax return, we also have a page that runs through lodgement options for individuals. You have the option of a paper return again, along with online services. To get started with online services for individuals you'll need to create a myGov account and link it with us. We have a guide that runs through everything you need to set that up.

 

If at any point during your lodgements you need help, we're available on this forum and by contacting the relevant area. For questions regarding your company contact our business area, and for your personal tax our individuals area. The numbers can be found on our contact us page under business enquiries, and individual enquiries.

 

Hope this helps. Let us know if you have any questions. 

3 REPLIES 3

Most helpful response

ATO Community Support

Replies 2

Hi @GB8,

 

Sorry to hear about your situation. You've got a few options to lodge both your personal and business tax returns. Pretty much you can do both via online services or through the paper forms. Online services are generally much faster, but you can choose to use paper forms if you like. 

 

We have a page on our website that explains how to lodge your company tax returns. There's a couple of links there that take you to either the paper form, or the process for setting up online services. 

 

As for your personal tax return, we also have a page that runs through lodgement options for individuals. You have the option of a paper return again, along with online services. To get started with online services for individuals you'll need to create a myGov account and link it with us. We have a guide that runs through everything you need to set that up.

 

If at any point during your lodgements you need help, we're available on this forum and by contacting the relevant area. For questions regarding your company contact our business area, and for your personal tax our individuals area. The numbers can be found on our contact us page under business enquiries, and individual enquiries.

 

Hope this helps. Let us know if you have any questions. 

I'm new

Replies 1

Hi

I have exactly the same situation as above. I want to deregister from ASIC my PTY LTD company and lodge my last TAX return myself. Somehow it is very difficult to do it online as the registration process doesn't work (still waiting for the code on my email after one day). I would like then to do it on paper but it seems that the declaration at the end (page 12) MUST be sign by an accountant? Can I sign myself as the Company Director?

Paper document here: Company-tax-return-2021.pdf (ato.gov.au)

Thanks

 

ATO Community Support

Replies 0

Hello @cheo450

 

The company tax return can be signed by a tax agent or public officer, so if you're lodging it yourself, just leave the tax agent declaration blank and complete the public officer declaration below it (assuming you're the public officer).

 

Just make sure you lodge the return before you deregister with ASIC, otherwise it will cause processing issues.