myTax is the ATO’s free online tool for individuals to lodge their own tax return through myGov, so it costs nothing to use. However, it does not provide advice, does not catch missed deductions, and is not suited to business or complex affairs, where a tax agent usually saves more than they cost.

One of the most common questions Australians ask during tax season is: 
“How much does tax actually cost?” 

If you’re lodging your tax return online through the Australian Taxation Office (ATO), the short answer is myTax is free. However, whether it’s the best or most cost-effective option depends on your situation.

In this guide, we explain what myTax is, what it costs, and when speaking to an Accountant in Melbourne may actually save you more money and set you up for a better future with wealth creation insights. 

What Is myTax? 

myTax is the ATO’s free online system that allows individuals to lodge their tax returns through myGov. It’s designed for people with simple tax affairs, such as: 

• Salary and wage income 

• Interest from bank accounts 

• Basic work-related tax deductions reported on income statement 

Because it’s government-run, there is no direct cost to lodge using it. 

So, How Much Does myTax Cost? 

👉 myTax costs $0 to lodge 
There is no lodgement fee, subscription, or hidden charge. 

However, “free” doesn’t always mean “best value”. 

• Missed tax deductions 

• Incorrect claims 

• Time spent understanding tax rules 

• ATO amendments or reviews later 

• Growth opportunities missed 

When tax Is Usually Enough 

Using myTax may be suitable if you: 

• Are a salary or wage earner 

• Have one employer 

• Have no investments or rental properties 

• Claim only basic deductions (phone, uniform, small home office) 

• Don’t need tax planning advice 

• Don’t care about growing their wealth 

When myTax May Cost You More in the Long Run 

• Work-related car or vehicle expenses 

• Home office deductions 

• Investment income 

• Rental properties 

• Business or sole trader income 

• Superannuation contribution deductions 

• Multiple income sources 

The system doesn’t tell you what else you could be claiming — it only processes what you enter. 

This is where working with a qualified tax accountant in Melbourne can make a significant difference. 

How Much Does an Accountant Cost Compared to myTax? 

While myTax is free, accountant fees typically range depending on complexity. The good news is: 

• Accounting fees are tax deductible 

• A good accountant often helps you claim more than their fee
• You get peace of mind and ATO compliance 

• You get advice to grow your wealth 

For many Melbourne taxpayers, the net cost of using an accountant ends up being lower than using it alone. 

Visit our page for infomation: https://pinnacleaccountingadvisory.com.au/ 

Common Mistakes People Make Using tax 

Some of the most common issues we see include: 

• Underclaiming work-related deductions 

• Incorrect car expense methods 

• Missing home office claims 

• Claiming deductions without proper justification 

• Errors that trigger ATO reviews 

These mistakes can result in reduced refunds or amended tax returns. 

Why Speak to an Accountant in Melbourne? 

Local knowledge matters. A professional Accountant in Melbourne understands the nuances of the system: 

• Current ATO focus areas 

• How to maximise claims while staying compliant 

• Tax planning strategies beyond simple lodgement 

At Pinnacle Accounting & Advisory, we assist individuals and businesses across Melbourne and nearby suburbs, including: Dandenong, Cranbourne, Berwick, Narre Warren, Keysborough, Springvale, Pakenham, Officer, Endeavour Hills, Hallam

Frequently Asked Questions

This article contains general advice only and does not take into account your specific circumstances. Please speak with a qualified accountant or tax adviser before making financial decisions.

• Facebook
• Instagram
• LinkedIn
• YouTube
• TikTok
• X