Published: 1 July 2024

Australia Tax Return Checklist 2024-25

The Australian financial year runs from 1 July to 30 June. Tax returns for FY 2024-25 can be lodged from 1 July 2025. The deadline for self-lodgement through myTax is 31 October 2025. If you use a registered tax agent, you may have until May 2026.

Documents You'll Need

Income Documents

• ✅ Payment summaries or income statements from all employers (available in myGov after 31 July)
• ✅ Bank interest statements
• ✅ Dividend statements (including franking credits)
• ✅ Rental income records (if you own investment property)
• ✅ Business income records (if self-employed)
• ✅ Any government payments received (Centrelink, JobSeeker, etc.)

Deduction Records

• ✅ Work-related expense receipts (uniform, tools, equipment)
• ✅ Home office expense records (if working from home)
• ✅ Self-education expense receipts (if related to your current job)
• ✅ Union or professional association membership fees
• ✅ Charitable donation receipts (donations over $2 to DGR charities are deductible)
• ✅ Investment property expenses (interest, repairs, agent fees)
• ✅ Income protection insurance premiums (if not through super)

Common Tax Deductions for Employees

Working From Home

For FY 2024-25, the ATO's revised fixed rate method allows you to claim 67 cents per hour for every hour you work from home. You need to keep a record of hours worked (diary or timesheet).

Work-Related Car Expenses

If you use your own car for work (not commuting to and from work), you can claim using:

• Cents per km method: 88 cents per km (up to 5,000 km) for FY 2024-25
• Logbook method: Requires a 12-week logbook; claims actual vehicle expenses based on work-use percentage

Self-Education Expenses

Course fees, textbooks, and travel for self-education are deductible if the study is directly related to your current job and maintains or improves your skills. You cannot claim for study that leads to a new career.

What You Can't Claim

• ❌ Commuting costs (home to work and back)
• ❌ Personal clothing and grooming (unless it's a uniform or occupation-specific clothing)
• ❌ Personal phone calls or private use of work devices
• ❌ Meals and entertainment (with limited exceptions)
• ❌ Gym memberships (unless required for your specific occupation)

HECS-HELP Repayments

If you have a HECS-HELP debt and your income exceeds the minimum repayment threshold ($54,435 for 2024-25), you must make compulsory repayments. These are calculated when you lodge your tax return and shown on your Notice of Assessment.

How to Lodge Your Tax Return

1. myTax (via myGov): Free, online, easiest for simple returns. Pre-fills most income automatically.
2. Registered Tax Agent: Useful for complex situations (rental properties, self-employment, large deductions). Fee is also tax-deductible.
3. Tax Help program: Free ATO-supported service for low-income earners.

Important Deadlines

• 📅 31 July 2025: Income statements finalised in myGov
• 📅 31 October 2025: Deadline to lodge your own return via myTax
• 📅 May 2026: Extended deadline if using a registered tax agent (must be registered by 31 Oct)