Knowing exactly when tax time begins and what deadlines apply can help you stay ahead, avoid ATO penalties, and potentially even maximise your refund.
Key Dates for Tax Time in Australia
Tax time in Australia revolves around the financial year, which runs from 1 July to 30 June. Here’s a breakdown of what you need to know:
- 1 July – Tax Time Officially Begins
From 1 July, you can officially lodge your tax return for the previous financial year. For example, on 1 July 2025, individuals will begin lodging returns for the 2024–25 financial year.
However, it’s often best to wait a few weeks and sometimes a few months — by mid-October, most employers, banks, and government agencies (like Services Australia and private health funds) have pre-filled your tax data with the ATO. This helps avoid errors and delays.
- 31 October – Deadline for Self-Lodgers
If you are lodging your return yourself through myGov or a paper return (and not through a tax accountant Melbourne), it must be lodged by 31 October. This is a firm deadline — miss it, and the ATO may apply late lodgement penalties, unless you have a valid reason. Alternatively, you can contact a tax accountant Melbourne and ask them to list you as a client – this will then give you additional time to lodge your tax return (potentially up to June the following year).
Extended Deadlines with a Registered Tax Agent
As mentioned earlier, if you use a registered tax agent, you usually get an extended lodgement deadline, sometimes as late as June the following year. To reaffirm that you must register with the agent by 31 October to qualify.
When Should You Prepare?
It’s a good idea to start preparing in June — gather:
- PAYG summaries or income statements
- Bank interest statements
- Private health insurance details
- Receipts for deductible expenses
- Records of investment income (dividends, capital gains, etc.)
- Superannuation contributions (including personal and concessional)
June is also a good time to finalise your tax planning before the end of the financial year. Please contact Nobel Thomas if you have any questions regarding tax planning.
When Will I Get My Refund?
Once your return is lodged, the ATO generally processes it within 2 weeks for online lodgements (whether that is through MyGov or through a tax accountant Melbourne). Paper returns can take up to 10 weeks.
Final Tips
- Lodge early only if your income details are finalised and known to the ATO.
- Keep good records for at least 5 years in case of audit. You can also contact a tax accountant Melbourne, like Nobel Thomas, to organise audit insurance for you if you are concerned about receiving an audit.
- Consider tax planning before 30 June to reduce tax payable or increase refunds. If you are not sure whether you need tax planning, please contact your tax accountant Melbourne, such as Nobel Thomas, who can assess your circumstances and advise.
