If you need help preparing your tax return use ezTax, our web based tax refund calculator/estimator:
30 June in Australia means one thing – Tax Time! (some might say taxing times).
30 June is important for many reasons: the Australian financial year ends on 30 June, stock takes, closing the books, balancing up the payroll, preparing and issuing 30 June PAYG Payment Summaries and preparing the annual 30 June tax return.
Most people need to lodge a tax return at 30 June each year. That means information, data collection, researching and data processing. For those who struggle with these tasks we have tried to make it easier with checklists, calculators and other tax tips come tax time – see these links for details:
- Etax Return Checklist
- Tax Return Calculator Australia
- Tax Deduction Finder Checklist
- Weekly Tax Tables
- Tax Rates & Tables
- iPhone Tax Refund Calculator
Lodgment Exemption – In some circumstances you do not need to lodge an annual tax return. As a general rule if you had any tax taken from any payment you received for the financial year ending 30 June you need to lodge a tax return.
For each financial year ending 30 June, you do not need to lodge a tax return if:
- your only income at 30 June was salary and wages, you earned less than your tax-free threshold ($6,000 for most people) and your payer did not take any tax out of your pay
- the only income you received for year end 30 June was from Centrelink (including CDEP payments) and you did not have any tax taken from it
- all your income for 30 June was “exempt income”
- you were under 18 years of age on 30 June, you received not more than $1750 from sources other than salary or wages.
There are other reasons 30 June is important. Information included in the annual 30 June tax return is used for many purposes: while some will have to pay tax, most salary/wage earners receive a refund of income tax instalments deducted from their pay throughout the year to 30 June.
The annual 30 June income figure is also used to reconcile other government benefits such as Family Tax Benefit (FTB), Child Care Tax Offset and various government benefits and responsibilities.
Finally, the annual 30 June tax return provides an opportunity to review family finances and set some goals for the next financial year ending 30 June.
For now, here’s a checklist to help you get started with your annual 30 June tax return.
Individual Tax Checklist(PDF)
|PAYG Payment Summaries
(formerly Group Certificates)
Centerlink & Veteran’s Affairs Payment summaries
Other pensions & Annuities
Employment Termination Payment & Superannuation Lump Sum Payment Summaries
Business Income & Expenses
rent Received & Expenses
Self Education Expenses
Unions, subscriptions, stationary, tools equipment, etc
Items of Equipment
Private Health Insurance Statement
In these cases
Education Tax Refund
Spouse Superannuation Contributions