How to Maximise Your Tax Return This Year

Get the Most From Your Tax Return

Every year, Australians collectively leave hundreds of millions of dollars in unclaimed deductions. Here's how to ensure you're not one of them.

Keep Receipts All Year Round

The most common reason people miss deductions is failing to keep receipts. Set up a simple system — a folder, an app like the ATO's myDeductions, or a dedicated email label — to store receipts as you receive them.

Claim All Work-Related Expenses

If you spend money for work and your employer doesn't reimburse you, it's likely deductible. Common claims include:

• Uniforms and protective clothing
• Tools and equipment
• Professional memberships and subscriptions
• Work-related phone and internet costs
• Self-education expenses

Don't Forget Investment Income Deductions

If you have investments, don't just declare the income — claim the associated expenses too. Investment management fees, financial advisor fees, and interest on investment loans are all deductible.

Check Your Private Health Insurance

The private health insurance tax offset can reduce your tax payable. Make sure your insurer has your correct income details to avoid adjustments at tax time.

Lodge on Time

Late lodgement penalties can significantly reduce your refund. If you use a registered tax agent, your deadline may be extended to May the following year — contact us to take advantage of this.

Ready to maximise your return? Book an appointment with our team today.