Australian Tax Return

How to file tax returns in Australia?

The Australian tax return is due on 30 June every year. Any individual or company who has earned legally in the country has to file an Australian tax return. The tax return covers the financial year from 1st July of a year to 30 June of the following year, When you file in your tax return, you declare all your earnings and claim for expenses that are allowed as deductions. Then you get your tax refund if any.

What is the deadline for tax return filing?

You need to submit the tax return to the Australian Tax office by 31st October. The sooner you file the return, the better – as you might owe tax back. So, the period for filing a tax return will be from July 1 to 31 October. In case you opt for a registered agent then, the term is longer.

How can I file the tax return in Australia?

• Online with my tax through myGov
• Complete paper tax return and mail to ATO.
• Through a registered tax agent.

Declare your Income:

Most of the information about your earning is pre-filled, from the details provided by your employer and financial institution to the ATO.

Types of income included in the declaration:

• Employment Income.
• Government payments.
• Business Income.
• Super pension and annuities.
• Income from investments (interest, dividend, rent and capital gain).
• Compensation income.
• Insurance payments received etc.

Claim your Tax deduction:

You are eligible to claim deductions for a certain expense. These are called tax deduction as it reduces your taxable income.

Following are the various heads under which you can claim deductions.

1) Work Expenses: You claim some work-related expenses only if-

• Directly related to your earning income.
• Receipt and records to prove the payment.
• The expense incurred by you and is not reimbursable.

Example – Vehicle and travel expenses, self–education expenses, clothing and tools, and equipment, etc.

2) Investment expense:

You may entitle to claim the cost of earning interest, dividend or any iter investment income. For example- Interest charged on borrowings used for investment purposes, investing magazine subscription, investment property expenses, fees paid for investment advice etc.

3) Home and office expense:

It includes the cost of computers, phones or any other electronic device and operating costs such as internet costs. Only part of the expenses related to the work can be claimed.

Hire a registered tax agent:

If you want the tax professional to file your tax return, then go for a registered tax agent. You can verify if your accountant or agent is registered with the tax practitioner or not.

Hire us to finish tax return within minutes

Accounts Junction has a dedicated and qualified team of tax professionals who can file your Australian tax return on behalf of you.

How can we help?

• Hassle-free online tax return.
• Unable to find PAYG or Income statement? No issues we can find for you.
• 24 x 7 response from Qualified Meru tax experts over the phone, call and skype chat.
• Electronic ATO lodgement.
• Maximum Tax refund.
• Security of lodging your return via registered agent.
• An expert tax professional to deal with ATO issues.