The financial year ends on 30 June. A little preparation before then makes tax time faster and can make your return bigger. Here is what to pull together.
Income
- Your income statement from myGov (it is usually marked “tax ready” in July)
- Interest, dividends and any share or crypto sales
- Rent from investment properties
- Government payments and any foreign income
Deductions people often miss
- Working from home: the fixed rate is 70 cents per hour for 2024–25 and 2025–26. You need a record of your actual hours for the whole year, such as a timesheet or diary. Estimates aren’t accepted.
- Work-related tools, equipment, uniforms and professional memberships
- Self-education linked to your current job
- Donations of $2 or more to registered charities
- The cost of managing your tax affairs, including last year’s accountant fees
Super
Extra contributions can reduce your tax. The concessional (before-tax) cap is $30,000 for 2025–26, rising to $32,500 from 1 July 2026. If you have unused cap from earlier years and a super balance under $500,000, you may be able to contribute more. Check your fund has received your contributions before 30 June, not just that you have sent them.
Investment property owners
- Rent statements from your property manager
- Interest on the loan (but not principal repayments)
- Council rates, water, strata levies, insurance and repairs
- A depreciation schedule, if you have one
- Your settlement statement, if you bought or sold during the year
Sole traders and small business
- Reconcile your bank accounts and BAS records
- Write off bad debts before 30 June
- Check whether you can bring forward expenses or delay income
- Pay employee super early enough to be deductible this year
- Keep a logbook if you claim car expenses
When to lodge
If you lodge your own return, the deadline is 31 October. If you use a registered tax agent and are on their client list before 31 October, you usually get more time. Waiting until mid-July lets your income statement and bank interest finish updating, which avoids amendments later.
General information only, written on 11 October 2026. It doesn't take your personal circumstances into account. Rates, grants, tax rules and concessions change, so speak with us before making a decision.
