Another financial year has wrapped up, and now you’re staring down tax time again. Maybe you’re wondering whether you’ve kept enough receipts, whether you can claim your work-from-home expenses, or whether that side hustle from earlier in the year needs to be included.
Here’s the real question: Are you actually ready to lodge your tax return this year?
If your gut says “not quite,” you’re not alone. Many people put it off, thinking they’ll figure it out when they get to it. But putting off your tax return, or rushing through it without the right info, can cost you, not just in missed deductions, but in potential penalties or unexpected tax bills.
So let’s run through what you really need to know for tax time 2025, and how you can take control now rather than deal with a headache later.
Hoping for the best isn’t a plan.
If your strategy is “I’ll just sort it out when I get to it,” that’s a gamble. Tax rules change. Your situation changes. A year that seemed straightforward on the surface could come with hidden tax consequences.
Lodging your return without the right info, or too early before your income is pre-filled, can lead to mistakes, delays, or under-claiming deductions you’re entitled to.
A little preparation now can save you a lot of back-and-forth later.
What should you do before lodging?
Here’s a quick checklist to get your ducks in a row:
Link your myGov account to the ATO if you haven’t already. You’ll need your TFN to do this.
Locate your TFN. If it’s not on hand, check old payment summaries or super statements.
Wait for pre-fill. The ATO starts filling in income and other details from late July. Lodging before then increases the risk of missing information.
Mark your deadline. If you’re lodging on your own, you’ve got until 31 October. If you want to use a tax agent, make sure they’re registered and reach out to them before that same date.
Do you need to lodge at all?
Most people do, but not everyone. If your income was low or you only received government payments, you might not need to lodge a return at all.
Still, if you’re unsure, don’t guess. The ATO offers a tool to check. And if it turns out you don’t need to lodge, you’ll still need to submit a non-lodgment form. Ignoring it altogether could still cause issues later on.
Let’s talk deductions.
This is where a lot of people trip up. You can’t just claim everything you’ve paid for. You can only deduct expenses if:
You paid the money yourself (and weren’t reimbursed)
It directly relates to your income
You’ve got proper records—receipts, not just bank statements
If you worked from home this financial year, you may also be eligible to claim part of your electricity, internet, and office equipment expenses. But again, solid records are key.
The Medicare levy and surcharge: what’s the difference?
Most Australians pay a 2% Medicare levy. It helps fund the public health system.
On top of that, higher-income earners who don’t have private hospital cover could also be charged the Medicare levy surcharge. And even if you do have cover, it has to meet the right requirements. If your spouse or children weren’t included in the policy, or you only had it for part of the year, you could still be charged.
It’s worth checking the fine print so you’re not caught out.
Got a student loan?
If your income is over the repayment threshold, you’ll need to start paying it back, even if you’re still studying.
Your employer might already be withholding extra from your pay, but it doesn’t go toward your loan until after you lodge your return. If they withheld too much, you could get a refund. If they didn’t withhold enough, you might have a shortfall.
Letting your employer know you have a loan can help avoid issues in the future.
Don’t forget your spouse’s details.
You need to include your partner’s income on your return if you had a spouse at any point during the financial year. This includes married, de facto, or domestic relationships.
The ATO uses combined income to determine eligibility for certain offsets and rebates, and to calculate the Medicare levy surcharge. Leaving it out could mean losing out on entitlements—or worse, ending up with a bill later.
What if something goes wrong?
Made a mistake? Don’t panic. Wait for your notice of assessment, then lodge an amendment. Doing it too early can slow things down.
Got a bill? The due date is 21 November, no matter when you lodge. Can’t pay it all at once? You may be able to set up a payment plan, but you’ll need to act quickly to avoid interest charges.
So, are you actually tax-ready?
Ask yourself:
Have I waited until all my income info is pre-filled?
Am I confident in the deductions I’m claiming?
Have I included all my income, including freelance, cash jobs, or investments?
Have I checked my Medicare levy or surcharge status?
Did I include my partner’s details?
If any of those questions made you pause, it might be time to get help.
Here’s where Clear Tax comes in.
At Clear Tax, we know tax season can be confusing, stressful, and—let’s be honest—not something most people look forward to.
But it doesn’t have to be that way.
We work with individuals, sole traders, and small businesses across Australia to take the guesswork out of tax. Whether it’s lodging your return, claiming all the deductions you’re entitled to, or sorting out a past mistake, we make it easier.
We speak your language, not accounting jargon. And we make sure nothing slips through the cracks—because even small oversights can lead to big problems down the line.
Want to get your 2025 tax return sorted the right way?
Reach out to Clear Tax today and take the pressure off. We’re here to make tax time simple, clear, and stress-free.
📚 Curious to know more? Dive into our blogs and get simple, practical tips straight from the experts!
1. What Is the Time Limit for Tax Return Amendments to the ATO?
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