Lodge your tax return

Where can you lodge your tax return?

Whether you work from home or not, there are three main ways you can lodge your tax return:

1. Online and prepared yourself

This can be completed through myTax. This can be accessed through MyGov and is the easiest and quickest way to lodge. You can expect to receive your outcome within 2 weeks.

2. Paper tax return prepared yourself

By completing a paper tax return form. This will generally take up to 4 weeks to process.

To lodge a paper tax return you will need:

3. Through a registered tax agent

Tax agents are the only people allowed to charge a fee to prepare and lodge your tax return. In addition, you will need to organise all your tax records to take to your tax agent.

If you are lodging your tax yourself your tax return deadline is October 31. However, if you are using a tax agent, you may be granted a 6 month extension.

What information do I need to lodge?

These days when you go to lodge your tax return online, most of your information has been pre-filled. However, if you aren’t working from home, this may not be pre-filled. Therefore, it is still important that you have the following information to ensure your information on your tax return is accurate!

1. The basics

  • Tax file number
  • Bank details (BSB and account number) to receive any refund owed
  • For myTax, you will need your Medicare card or number.

2. Details of your income and expenses

  • Details from payment summaries from employers, super funds, Centrelink or Department of Veterans’ Affairs
  • Statements from banks and financial institutions showing interest received
  • Details of foreign pensions or other foreign income received
  • Employment termination payment summaries
  • Receipts for gifts, donations and work-related expenses
  • Details of any child support payments made.

If you have a spouse, you will need details of their income and expenses – complete the income test questions to ensure we get your entitlements right.

3. Investments

If you have shares, units, managed funds or other investments you will need details of:

  • Dividend payments and distributions from managed funds
  • Any investment gains or losses from the disposal of shares, units and rental properties.

4. Rental properties

If you own a rental property you will need details of:

  • Rental income earned
  • Interest charged on money you borrowed for the rental property
  • Other expenses relating to the property, including any expenditure on capital works.

After you have submitted your tax return, you may realise that working from home provides you with a number of benefits. Therefore, if you’re not already working from home, it might be time to consider a change in career!