Individual Tax Return — Maximum Refund, Every Time

You can claim work-related expenses (vehicle 88¢/km, tools up to $300 instant, uniforms and laundry, phone and internet work portion, home office 67¢/hour), self-education directly related to your current job, union and professional fees, investment expenses, rental property costs, charitable donations to DGR organisations, and income protection insurance premiums. We identify every applicable deduction for your occupation and circumstances.

The revised fixed rate method allows 67 cents per hour worked from home from 1 July 2022 onwards. This covers electricity, internet, stationery and minor equipment under $300. You must keep actual records of hours worked from home — estimates or employer rosters are acceptable where specific records don't exist. The actual cost method may yield a larger deduction if you have a dedicated home office and high actual costs.

Yes, for work-related travel only — not your normal home-to-work commute. The cents-per-km method allows 88 cents per km in 2024–25 (up to 5,000 km) with no logbook required. The logbook method requires a 12-week log but claims actual expenses based on your business-use percentage. We calculate both and apply whichever gives the larger deduction. Travel between work sites, to client meetings, or carrying bulky tools that can't be stored at work is deductible.

The ATO treats cryptocurrency as an asset for CGT purposes. Every time you sell, trade, swap, or spend crypto, a CGT event occurs. You calculate the capital gain or loss as the difference between what you paid (cost base including fees) and what you received. Assets held more than 12 months qualify for the 50% CGT discount. DeFi income, staking rewards, and airdrops are generally treated as ordinary income at receipt. We handle all crypto tax calculations.

Rental property deductions include loan interest, property management fees, council rates, water rates, landlord insurance, advertising for tenants, repairs and maintenance (not improvements), depreciation on plant and equipment (via a depreciation schedule), and travel to inspect the property. If expenses exceed rental income, the loss (negative gearing) offsets your other taxable income like salary. We handle all rental property tax calculations including CGT when you sell.

The self-lodgement deadline is 31 October each year. If you use a registered tax agent like Taxo Advisory, you may qualify for an extended deadline to May the following year — but you must be registered as a client before 31 October. Contact us before this date to secure your extension.

The tax-free threshold is $18,200 for the 2024–25 financial year. Resident individuals don't pay income tax on the first $18,200 of income. With the Low Income Tax Offset (LITO) of up to $700, the effective tax-free amount can be slightly higher. You claim the tax-free threshold from your main employer — only one employer at a time.

The Stage 3 tax cuts took effect from 1 July 2024, restructuring the middle tax brackets significantly. The 32.5% rate now applies from $45,001 to $135,000 (previously to $120,000). The 37% rate now starts at $135,001 (previously $120,001). The top rate threshold remains at $190,000. Most middle-income Australians will pay less tax in 2024–25 compared to 2023–24.