Worried you’re missing out on a bigger refund? Each year, many taxpayers miss out on deductions that may be available to claim and, on average, may leave up to $525.50 on the table.
As of June 2025, lodging late could result in a $330 fine every 28 days past the deadline. If you’re more than five intervals (or 140 days) late, the fine can reach the maximum of $1,650 per return, based on the Australian Tax Office’s (ATO) updated penalty table.
It all comes down to preparation before the October cutoff. By getting your tax documents in order now, you’ll be better placed to claim eligible deductions, avoid costly mistakes (where applicable), and lodge confidently.
To help you nail it this year, let’s look at how to file and track your tax return online, which records the ATO requires, and how to streamline the entire process.
Disclaimer:The information provided in this article is general in nature and does not constitute tax advice. Always consult a qualified tax professional about your specific circumstances before making decisions.
Key tax dates
According to the ATO website, the Australian financial year runs from 1 July to 30 June, with tax returns due by 31 October for individuals filing themselves. When a due date falls on a Saturday, Sunday, or public holiday, you can lodge or pay on the next business day.
| Date | Significance |
| 30 June | End of financial year |
| 1 July | Tax return lodgment period begins |
| 31 October | Standard filing deadline for individual tax returns |
| 15 May (following year) | Extended filing deadline for those using registered tax agents |
If you use a registered tax agent or accountant to complete your tax return, you’ll be eligible for an extended deadline as late as 15 May of the following year. To apply for a lodgement deferral, the ATO stipulates that you must sign up with a tax agent before 31 October.
How to complete your tax return online
Step 1: Gather your paperwork
Organizing your tax documents is the first step, regardless of whether you plan to file them yourself or have an accountant handle them.
To lodge your tax return easily, log in to your myGov account linked to the ATO website and open myTax. MyTax is available 24/7 and is usually pre-filled with information from your employers, banks, government agencies, health funds, and other providers.
All you need to do is verify the details and upload the supporting documents. Before you upload any documents to verify your claims, the ATO recommends gathering three key types of paperwork: income documents, deduction documents, and medical and health insurance documents.
Income documents
Income documents list what you’ve earned in the financial year. The ATO uses them to calculate your tax or refund.
Although some information may be automatically reported, it is your responsibility to ensure all income is correctly declared.
Some income documents include:
- Payment summaries – Records of income from employers, superannuation funds, or government agencies such as Centrelink or the Department of Veterans’ Affairs
- Bank statements – Records showing interest earned from savings accounts, term deposits, or offset accounts during the financial year
- Investment statements – Dividend notices from shares, distribution statements from managed funds or unit trusts, and annual investment summaries
- Share trading records – Buy and sell confirmations from your stockbroker or online trading platform for any shares purchased or sold during the fiscal year
- Rental property records – Income statements from your property manager or tenancy records if you own investment properties, including any capital gains from sales
- Foreign income details – Records of overseas wages, foreign pensions, or international investment income that must be declared in Australia.
Deduction documents
Claiming deductions may reduce your taxable income, but the ATO requires proper documentation. Without evidence, the ATO may deny deductions and potentially apply penalties.
Here are some examples of potential deductions. For the complete list, visit the ATO website.
- Work-related expense receipts – Records for items purchased specifically for your job, such as uniforms, tools, or safety equipment you’ve paid for yourself
- Charitable donation receipts – Records of tax-deductible donations from registered charities with Deductible Gift Recipient (DGR) status
- Income protection insurance – Statements for policies you pay outside your super fund
- Work-from-home expenses – Records of home office costs like electricity bills, internet expenses, phone bills, office supplies, and equipment you use for work
- Vehicle expense records – Logbooks tracking work-related travel, fuel receipts, registration, insurance, and maintenance costs for business use of your car
- Self-education expenses – Course fees, textbooks, and study materials for work-related training that improve your skills or qualifications in your current job
- Spouse’s income and expenses – If you have a spouse, their income and expense details may be needed to calculate your entitlements correctly.
Medical and health insurance documents
If you have private health insurance, declaring this with the right documentation could save you serious money. Without proper cover or the correct paperwork, the Medicare levy surcharge of up to 1.5% of your income on top of the standard 2% Medicare levy may apply.
- Private Health Insurance Statement – Annual statement from your health insurer showing cover level, premiums paid, and government rebates received
- Medicare Entitlement Statement – Certificate from Services Australia for those not eligible for Medicare benefits to claim levy exemption
- Dependent Details – Information for dependents on your policy, as family thresholds and additional surcharges may apply
- Medical expense receipts – Records of out-of-pocket costs that may qualify for the medical expenses tax offset
While the ATO pre-fills most health insurance details, it is your responsibility to double-check them against your health fund’s year-end statement. Remember, an error here could mean paying the Medicare levy surcharge.
Step 2: Claim your tax deductions
Time to hunt down every legitimate deduction you are eligible to claim. Before you start, make sure each expense meets these criteria:
- Relevant – The expense must be directly related to earning income or performing duties.
- Real – You must have paid for it, with your own money and not been reimbursed by your employer.
- Recorded – You must have proper evidence like receipts, invoices, or bank statements to prove the expense.
These deductions may be claimed in your tax return form under the work-related expenses.
Some occupations and industries may have specific deductions available. For instance, teachers, tradies, healthcare workers, and other professionals often have unique work-related expenses they may claim, and you should consider if you meet any criteria.
Step 2.1: Use myDeductions
For employees and solo traders claiming work-related expenses, you may also download the ATO’s free myDeductions tool and start logging expenses as they happen. Using this can help you record work-related expenses, store photos of receipts, log charitable donations, and track car trips for work purposes throughout the year.
If you’re a small business, partnership, or company with an ABN, you’ll need proper accounting software or professional bookkeeping to manage your deductions.
If you’re unsure about eligibility or record-keeping requirements, seek professional tax advice before lodging.
Step 3: Track your tax return
Once you’ve gathered your documents and identified your deductions, it’s time to lodge your return and keep tabs on its progress.
- Lodge your return: Submit your tax return through myTax via your myGov account. The system will guide you through each section and perform automatic calculations as you go.
- Check your myGov inbox: You’ll receive a tax receipt confirming your submission after lodging. Keep an eye on your myGov inbox for your Notice of Assessment, which shows your final tax calculation and any refund or debt owing.
- Track your refund: Most refunds are processed within two weeks if you lodge online and have no issues with your return. You can check the status anytime through myGov.
Skip the stress and book an expert
Getting your tax return right involves juggling deadlines, tracking documents, understanding complex deduction rules, and staying ATO-compliant. While it’s possible to do it yourself, making one mistake could cost you hundreds in missed deductions or penalties.
That’s why it often pays to book a registered tax accountant through Oneflare to get expert help. Simply post your tax preparation task and receive competitive quotes from individuals ready to help you navigate tax season successfully.
Remember – if you are engaging someone to help you with your Taxes, you should always verify that they have the appropriate qualifications.
Use this Australian Government Tax Practitioners Board tool to assist with selecting a tax professional with the credentials or qualifications required for your job.
Why book on Oneflare?
- Compare quotes and choose the right person for your budget
- Read reviews from real customers before booking
Ready to lodge your return confidently? Organise your tax return on Oneflare today!