Don’t Get Spooked This Halloween: Lodge Your Tax Return Before October 31st!

The end of October marks more than just the close of another month, it’s also the deadline to lodge your 2024–25 tax return if you’re an individual lodging it yourself. The Australian Taxation Office requires most taxpayers to submit their returns by October 31 2025, covering income earned between July 1, 2024, and June 30, 2025.

Here’s everything you need to know to lodge on time, avoid penalties, and make sure you get the most out of your return.

1. Check if you need to lodge

Before you dive into deductions, make sure you need to lodge. Most people who earned income- from work, government payments, or investments- will need to, but there are exceptions. If you earned below the tax-free threshold ($18,200) and didn’t have tax withheld, you might be off the hook. You can use the ATO’s online “Do I need to lodge?” tool to be sure.

2. Gather your documents early

Nothing’s worse than scrambling for receipts at the last minute. Before you lodge, collect everything you’ll need, including:

• PAYG payment summaries (your employer usually pre-fills these)
• Bank interest statements
• Private health insurance information
• Deduction records (work-related expenses, donations, etc.)
• Investment and rental income details, if applicable

Check that your pre-filled data in myGov is complete before you start- most information is available by mid-August, but double-checking saves you from mistakes.

3. Claim what you’re entitled to

Maximise your refund by claiming all eligible deductions, but only those you can prove! Common deductions include:

• Work-related expenses (uniforms, tools, travel, home office costs)
• Self-education expenses related to your job
• Donations to registered charities
• Interest or fees on investment loans

Keep digital copies of your receipts for at least five years, the ATO loves good record-keeping.

4. Consider using a registered tax agent

If you’re feeling overwhelmed, a registered tax agent can work their magic and ensure you claim everything correctly. Plus, if you register with one before October 31st, you’ll often get an extension to lodge later in the financial year. Just make sure the agent is registered with the Tax Practitioners Board (TPB).

5. Lodge online with myTax

The quickest and easiest way to lodge is online through myTax via your myGov account. It’s free, secure, and available 24/7. Most data is pre-filled, so all you need to do is review, add deductions, and hit submit; refunds usually arrive within two weeks.

What happens if you miss the deadline?

If you miss the October 31st deadline and haven’t registered with a tax agent, the ATO may apply a Failure to Lodge (FTL) penalty — starting at $313 for each 28-day period overdue, up to $1,565. Lodging on time, even if you can’t pay immediately, helps you avoid these penalties. You can always contact the ATO to arrange a payment plan.

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