What You Need To Know About Your Tax Return

20:25' 10-07-2018
From 1 July to 31 October, most working Australians have to lodge their tax returns. This can be stressful, but there is plenty of help available to get you through the process, and maybe get you a refund as well.

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    General Information

    • After June 30, your employer will send you a “Payment Summary”, saying what you earned in the last year, and how much was deducted for tax, superannuation, or other costs. If you don't receive one by 14 July, ask your employer.

    • If you had more than one job, wait until you have received all of your Payment Summaries.

    • You don't have to complete a tax return if you earned less than the tax-free threshold of $18,200.

    • Most international students studying for more than 6 months are considered “Australian residents for tax purposes”.

    Lodging a tax return

    • Visit the Australian Taxation Office (ATO) website at www.ato.gov.au. First you will be asked to create a myGov account, and link it to the ATO.

    • Use a registered tax agent. A list is available on the Tax Practitioners Board website at www.tpb.gov.au/tax-agents.

    • Lodge a paper tax return, using a form downloaded from the ATO website, or phone the ATO on 1300 720 092.

    • Keep records of all work-related expenses, such as equipment, special clothing, union fees and other costs. There is an ATO app, the myDeductions tool, which makes it easy and convenient to keep records of expenses and income.

    Getting help

    • If you make a mistake, or forget to include something, go to ato.gov.au/fixamistake to repair it online.

    • Visit one of the 35 ATO “pop-up” shops in major shopping centres and community hubs for advice. To find the one nearest you, visit www.ato.gov.au/Individuals/Ind/Pop-up-shops.

    • Use the Tax Help program, run by trained volunteers to assist people on incomes less than $60,000 to do their tax returns. To see if you’re eligible, and to book an appointment, go to www.ato.gov.au/Individuals/Lodging-your-tax-return/Tax-Help-program.

    For most information, visit the ATO website. Information in languages other than English is available at the bottom of the home page. Click on the “Other languages” option.

    Yoon K



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