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Tax Time Made Simple In The Illawarra

Yup, it’s that time again. We’ve broken down some of the basics for you [because there’s no such thing as a silly question at tax time], and if you’re ready to dive in, we’ve also pulled together a list of local accountants in the Highlands who can help

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When does the new financial year start?
The first of July each year, so the 2025–26 financial year officially begins on July 1, 2025.

When can I lodge my tax return?
You can lodge your tax return for the 2024–25 financial year from July 1, 2025. 

When is my tax return due?
If you’re lodging your tax return yourself, the deadline is October 31, 2025. If you’re using a registered tax agent, you must be registered with your agent by October 31.

What can I claim? 
Common deductions include work related and home office expenses, and donations. Head here for a comprehensive list.

How can I find my Tax File Number (TFN)?
If your myGov account is linked to the ATO, you can find your TFN there. It’s also good to check past tax returns, payslips, and superannuation statements if you need to dig it up.

Need help but can’t afford an accountant?
If you earn less than $70,000, you may be eligible for the ATO’s free Tax Help program. The program connects you with volunteers who can help you lodge your return online.

What if I make a mistake on my tax return?
No need to worry- you generally have up to two years to amend your tax return through the ATO.

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