A young apprentice near Lismore lodged his first tax return last year. He had no idea where to start. He asked around and got three different answers from three different people. One said myGov. Another said just use an agent. A third was not sure he even needed to lodge one at all. None of them were wrong exactly. They just were not looking at the full picture.
Here is the short version. A tax return is how you report your income to the ATO each year, so the tax office can work out whether you paid the right amount. Most people need to lodge one. It is usually due by the end of October if you lodge it yourself, though using a registered tax agent can extend that.
Getting your first return right sets the tone for every year after it. A tax agent can lodge it properly on your behalf, and often gives you longer to get everything sorted too.
What is a tax return
A tax return is a yearly report of your income, sent to the ATO. It covers wages, business income, investment earnings, and anything else the ATO needs to know about. The ATO then compares this against tax already withheld during the year. From there, you either get a refund or owe a bill, depending on the difference.
Do you actually need to lodge one
Most people who earned income during the year need to lodge a return. There are some exceptions, such as very low income earners in specific circumstances. Even so, assuming you do not need to lodge, without actually checking, is a risky habit. It is far safer to confirm your situation than to guess and get it wrong.
When is your tax return due
If you lodge it yourself, the standard deadline sits at the end of October each year. Using a registered tax agent can extend this considerably, sometimes well into the following year, as long as you engage them before the standard deadline passes. Since exact dates can shift slightly year to year, checking the current deadline on the ATO website is worth doing rather than relying on memory.
Why the agent deadline is later
Tax agents lodge a large volume of returns for many different clients. The ATO extends their deadline partly to spread this workload sensibly across the year. As a result, engaging an agent early enough is not just about convenience. It really does buy you more time to gather paperwork and get things right.
What counts as engaging an agent in time
Simply deciding to use an agent is not enough on its own. You generally need to be registered as their client with the ATO before the standard deadline passes, not just have a vague plan to call one eventually. Because of this, reaching out earlier in the year, rather than in the final week of October, protects the extended deadline properly.
How to lodge your tax return
There are a few main paths. Most individuals lodge online through myGov, using the ATO’s own myTax system once their account is linked. Others use a registered tax agent, who lodges on their behalf through a separate professional system. A small number still lodge by paper, though this option is far less common than it used to be.
What you need before you start
Before lodging, gather your income statement, any bank interest details, and records for deductions you plan to claim. Having these ready first makes the whole process faster, whether you are doing it yourself or handing it to an agent. Otherwise, you end up pausing halfway through to track down a missing document.
Lodging through myGov versus using a tax agent
myGov suits people with a simple return and the time to work through it themselves. A tax agent suits anyone with a more complicated situation, multiple income sources, or simply no interest in doing it themselves. Agents also tend to catch deductions people miss on their own, which can offset some or all of the cost of using one.
A cafe owner near Lismore tried myGov the first year she ran her business, then switched to an agent the next. The difference in her final refund more than covered the agent’s fee, mostly thanks to deductions she had not known to claim herself.
How long does it take to get your refund
Once lodged electronically, most refunds arrive within about two weeks, though this can vary depending on how complex the return is and whether the ATO needs to check anything further. Paper returns generally take considerably longer. If your return has been sitting for well beyond the usual window, checking its status through myGov is a reasonable first step before assuming something has gone wrong.
What can slow a refund down
A few things commonly add delay. Bank details that do not match ATO records, income the ATO is still waiting to receive from an employer, or a return flagged for a routine check can all push things back. Even so, most delays sort themselves out within a few extra weeks, rather than turning into a lasting problem.
What happens if you lodge late or miss the deadline
Missing the deadline can trigger a failure to lodge penalty, which grows the longer a return stays outstanding. Even so, coming forward and lodging late is almost always better than continuing to delay. For a closer look at what overdue returns mean and how the ATO handles them, our guide to ATO warnings and overdue returns covers this in more detail.
Can you fix a mistake after lodging
Yes. If you notice an error after your return has already been lodged, you can generally request an amendment rather than starting over. This might mean adding income you forgot about, or claiming a deduction you missed the first time around. Amendments have their own time limits, so it is worth sorting this out sooner rather than later once you spot the mistake.
Common reasons people amend a return
Forgetting a small amount of bank interest is common, since it is easy to overlook a minor account. Missing a deduction, such as a work related expense discovered after lodging, comes up often too. Either way, an amendment is a normal part of the system, not something to be embarrassed about or avoid dealing with.
If you are behind on a return, or simply want this year’s done properly and on time, get in touch and we will take care of it. When you would rather hand the whole thing over than tackle it yourself, reach out and we will sort it from here. You can also check your own lodgement status and deadlines directly through the ATO website.
Frequently asked questions
Do I need to lodge a tax return
Most people who earned income during the year do. Some low income exceptions exist, but it is worth confirming your specific situation rather than assuming you are exempt.
When is my tax return due
Generally by the end of October if you lodge it yourself. Using a registered tax agent can extend this, sometimes considerably, as long as you engage them before the standard deadline.
How long does a tax refund take
Most electronic returns are processed within about two weeks. Paper returns take considerably longer, and complex returns can take extra time if the ATO needs to check something.
Can I lodge my tax return myself
Yes, through myGov and the ATO’s myTax system, as long as your account is linked. This suits simple returns better than complicated ones.
What if I have income from more than one source
You still lodge one return covering everything, rather than a separate return per income source. Wages, business income, investments, and anything else all get combined into the same annual report to the ATO.
Do I need receipts to lodge my tax return
Not to lodge itself, but you generally need records to support any deduction you claim, in case the ATO asks about it later. Keeping receipts as you go makes tax time far less stressful than hunting for them afterward.
What if I moved overseas or interstate during the year
You still lodge one return for the full financial year, regardless of where you moved. Your residency status at different points during the year can affect how your income gets taxed, so it is worth mentioning any move to whoever helps you lodge, since it changes more than just your address on file.
Does my tax return affect anything else, like a home loan application
Yes, often more than people expect. Lenders frequently ask for recent tax returns and notices of assessment to verify income. Keeping your returns up to date and easy to access can smooth out an application, rather than scrambling to find old paperwork when a lender asks for it.
What happens if I miss the tax return deadline
A failure to lodge penalty can apply, and it grows the longer the return stays outstanding. Lodging late is still far better than not lodging at all.