The end of the Australian financial year - 30 June - triggers one of the most common financial tasks for working Australians: lodging a tax return. Most people leave money on the table by missing legitimate deductions, while others attract ATO attention by claiming things they are not entitled to. This checklist covers everything you need to gather, every type of income to declare, and the most commonly missed deductions for Australian taxpayers.
Key Tax Dates for 2025-26
Mark these dates to avoid penalties and late lodgement issues:
- 30 June 2026: End of the 2025-26 financial year. Any tax planning actions (super contributions, asset sales, deductible purchases) must be completed by this date to count for the current year.
- 1 July 2026: myTax opens for individual lodgement. The ATO begins pre-filling data from employers, banks, health funds, and investment platforms - wait until late July for most pre-fill data to populate before lodging.
- 31 October 2026: The standard deadline for individuals lodging their own tax return. Late lodgement attracts penalties.
- Tax agent lodgement: If you use a registered tax agent, they have extended lodgement deadlines (often May 2027) under the tax agent lodgement program - but you must be on their books before 31 October.
- 1 June 2026: Superannuation indexation date - HECS-HELP balances and super balances are indexed on this date. Voluntary super contributions or HECS repayments made before 1 June reduce the base on which indexation is applied.
Income You Must Declare
All assessable income from all sources must be included - not just your salary:
- Employment income: Your payment summaries (formerly group certificates) are pre-filled from employer ATO reporting. Cross-check against your final payslip of the year. Include all jobs held during the year, including part-time and casual work.
- Investment income: Interest from bank accounts, dividends (including the grossed-up amount and franking credits), distributions from managed funds and ETFs, and foreign income. Most of this pre-fills from ATO data but verify against your own records.
- Rental income: All rent received during the year, including advance rent, bond money kept, and insurance proceeds for loss of rent. Offset against allowable deductions.
- Capital gains: Any profit from selling shares, property, crypto, or other assets held on capital account. Do not net gains and losses before reporting - report gross gains and losses separately. Apply the 50% CGT discount for assets held over 12 months.
- Government payments: Taxable Centrelink payments (JobSeeker, parental leave, some pension payments) are assessable income. Your Centrelink income statement is available through myGov.
- Side income and gig economy: Freelancing, Uber, Airtasker, TaskRabbit, Airbnb, OnlyFans, or any other platform income must be declared. The ATO receives data from major platforms. There is no tax-free threshold for side income - it is all assessable.
Deductions Checklist: What You Can Claim
Deductions reduce your taxable income - only claim what you are genuinely entitled to and can substantiate:
- Work-related expenses: Costs incurred to earn your employment income that were not reimbursed. Requires receipts for claims over $300 total. Includes: work-specific clothing and laundry ($1 per load for loads that include work clothing; $0.50 for combined loads), union fees and professional memberships, tools and equipment (items under $300 are immediately deductible; over $300 depreciate), work-related books and journals, and work-related phone and internet (work-use proportion only).
- Home office expenses: The ATO fixed rate is 67 cents per work hour for 2025-26. Keep a record of hours worked from home (a logbook or calendar). Covers electricity, phone, internet, stationery, and computer consumables. Claim actual costs for items not covered (e.g., a new desk or monitor - depreciated over effective life).
- Vehicle expenses: Work-related travel in your personal vehicle (not commuting to a regular workplace). Cents per kilometre method: 88 cents per km for 2024-25 (check ATO for 2025-26 rate), up to 5,000 km without a logbook. Logbook method for higher usage - requires 12 weeks of logbook records.
- Self-education: Study costs directly related to your current job that maintain or improve your skills. Not claimable for study for a new career. Includes course fees, textbooks, travel to campus, and stationery.
- Investment deductions: Interest on loans used for investment purposes, investment adviser fees relating to existing investments, investment-related subscriptions and journals, and depreciation on investment property.
- Income protection insurance premiums: Premiums paid outside of super for income protection cover are fully tax-deductible.
- Donations: Cash donations to DGR (deductible gift recipient) registered charities are deductible if over $2 and you have a receipt. Non-cash donations have different rules - check the ATO.
Documents to Gather Before Lodging
Having these ready reduces errors and wait time:
- myGov account: Link your ATO and Centrelink (if applicable) services. Most data pre-fills once you access myTax - wait until late July for employer and bank data to populate.
- Bank statements: To verify interest pre-fill and identify any income or deductible expenses not otherwise captured.
- Receipts for deductions: For any claim not pre-filled by the ATO. ATO requires you to keep records for 5 years from the date of lodgement. The ATO app allows you to photograph and store receipts throughout the year.
- Investment records: Annual tax statements from ETF providers, managed funds, share registries (dividend statements), and any sale records needed for CGT calculations.
- Rental property records: Rental statements from agents, council rate notices, insurance certificates, loan interest statements, and depreciation schedules from a quantity surveyor.
- Health insurance statement: Your private health insurer provides an annual tax statement confirming your level of cover, premiums paid, and government rebate received. Required for the private health insurance rebate and Medicare Levy Surcharge assessment.
- HECS-HELP balance: Check your balance on myGov or your ATO account - the ATO assesses your repayment obligation automatically, but knowing your balance helps with financial planning.
Roopon: One More Thing to Check at Tax Time
At tax time, Australians review their financial position and look for ways to keep more of what they earn. Roopon membership is a straightforward addition: partner discounts across everyday spending reduce household costs year-round, and FREE included prize-draw entries per their plan and published campaign terms. from $19.99/month, Roopon is built to return more than it costs. ABN: 89 656 278 830 | 172-178 Maroubra Road, Maroubra NSW 2035
Frequently asked questions
When can I lodge my 2025-26 tax return in Australia?
myTax opens on 1 July 2026 for individual lodgement. However, most pre-fill data from employers, banks, and investment platforms takes until late July to populate. Lodging too early means you may miss pre-filled data and make errors. The ATO recommends waiting until late July for most taxpayers. The standard self-lodgement deadline is 31 October 2026. Using a registered tax agent extends your deadline - but you must engage the agent before 31 October.
How much can I claim without receipts on my Australian tax return?
You can claim up to $300 in total work-related expenses without individual receipts - but you must still have genuinely incurred the expenses, be able to explain what they were for, and they must be deductible. For laundry of work clothing, there are reasonable amount rules (up to $150 without detailed records). For any claim above $300 total, the ATO requires receipts or other written evidence. The ATO does not have a blanket no-questions deduction - the $300 is a record-keeping threshold, not a guaranteed deduction.
What can I claim on my tax return in Australia for working from home?
For 2025-26, use the ATO's revised fixed rate method of 67 cents per work hour. Keep a record of hours worked from home (diary, calendar, or timesheet). This rate covers electricity, phone, internet, stationery, and computer consumables. You can also separately claim depreciation on work-related equipment (laptop, desk, monitor) if not fully covered by the fixed rate. You cannot claim occupancy costs (rent, mortgage interest, council rates) unless you have a home office used exclusively for work.
Do I have to declare cash income on my Australian tax return?
Yes. All assessable income must be declared regardless of how it is paid - cash, bank transfer, cryptocurrency, gift cards, or barter. The ATO receives data from banks, platforms, and employers, and cross-matches returns. Under-reporting income is tax evasion, not a grey area. If you receive regular cash income (market stalls, trade work, babysitting), keep your own records and include it in your return.
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