If you've earned any money in Australia throughout the financial year (1 July to 30 June) you need to declare this at tax time. If you've paid too much tax throughout the year you'll get some back in the form of a return. Or, if you haven't paid enough tax you'll need to pay more. Your tax return is also a chance to declare work-related expenses as deductions, to boost your return.
If you're after a bit of help with your tax return, an Australian tax agent can help you correctly lodge your tax return.
Here are the top-line steps on how to lodge your tax return:
For a more detailed overview on each of these steps, read our longer guide on how to complete your tax return.
| Response | |
|---|---|
| Yes | 63.75% |
| No | 36.25% |
There are two ways you can lodge your tax return. You can complete your tax return yourself online for free using the ATO's tool myTax, or you can seek support from a registered tax agent. Both options have advantages and disadvantages.
Unsure if you should do your tax online via myTax or use a tax agent? This guide compares both options side by side so you can see the pros and cons of each, and decide which option is right for you.
A tax agent will ensure you've lodged your return correctly, and they can help maximise your refund by claiming more deductions that you're eligible for.
In this guide you can compare a range of online tax agents that each offer a different level of support, from just a little bit of help all the way to a full-service tax agent.
Claiming tax deductions for work-related expenses you've paid throughout the year can help reduce your taxable income and get you a bigger tax return. But it's important to claim only what you're legally entitled to.
This guide outlines how tax deductions work, and lists a huge number of deductions that you could be eligible to claim when lodging your tax return. It also includes the tax dedications you're eligible to claim without receipts.
You need to make sure you've successfully lodged you tax return ahead of the deadline set by the ATO each financial year, or you risk getting a penalty. There are different deadlines you need to be aware of depending on how you choose to lodge your tax return.
This guide outlines your requirements for lodging your tax return by the due date, and explains how you can get yourself a six-month extension.
DISCLAIMER: Many of the comments in this article are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information applicability to their own particular circumstances.
Working from home due to coronavirus and want to know what you can claim on tax? Here's how to claim your home office and other household expenses as a tax deduction this year.
Your guide to working out if you need to file a tax return with the ATO.
The process involved to lodge your business tax return will vary depending on if you're a sole trader, partnership, trust or a company. Here's what's required with each business type.
Your guide to tax returns and how long you’ll need to wait for your refund to be paid.
Your tax return has a different deadline depending on which financial year you're filing for, and whether or not you're using a tax agent. See which tax return due date applies to you in this guide.
Investors aren’t the only ones who can benefit from property tax savings. From home offices to renting out a spare room, there are deductions available.
If you're an Australian resident for tax purposes you need to lodge an income tax return. Here's how to tell if you're considered a resident or not by the ATO.
If you earn interest from a savings account, you need to pay tax on that interest at the same rate as the rest of your annual taxable income.
Follow our step-by-step guide on how to lodge a tax return including the information you'll need, the different ways to lodge it and what deductions you can claim.
We’ve put together a list of our best tips for boosting this year’s tax return. Maximise your tax refund today.
Where do you input RECS in Mytax? Or view it from pre fill?
Hi Kathryn,
Thanks for your question.
RECS is generally registered through the REC Registry, rather than through MyTax. If you need further assistance, please get in touch with the REC Registry on 1300 553 542.
I hope this has helped.
Cheers,
Shirley
Sorry, I made a typo, I meant RESC as in Reportable Employer Super Contributions.
Thanks.
Hi Kathryn,
Thanks for your question.
The reportable employer superannuation contributions (RESC) section can be found under IT2.
Please add up the reportable employer superannuation contributions amounts shown on your payment summaries and then write the total at T item IT2.
Hope this helps.
how much income tax i have to pay to ATO (being OZ citizen) if I work in US for 1 year and earn USD 100000
Hi ABC,
Thanks for your question.
Generally, you need to pay tax in Australia if you’ve earned the income through an Australian source.
If you would like to discuss your personal situation, we recommend you to speak to an online tax agent.
Regards,
Shirley
what is the best way for me to lodge a partnership tax return for industry code 85990 natural therapies?
Can I do this online?
Hi Peter,
Thanks for your question.
A partnership tax return has a similar structure to that of an individual’s return. It can be done online.
However, if you require assistance, we recommend that you speak to a tax agent.
Cheers,
Shirley