Australia's income tax system runs on a 1 July to 30 June financial year. Individuals who earn assessable income must lodge a tax return — either through the ATO's free myTax online service or through a registered tax agent — and, if lodging personally, must generally meet the 31 October deadline. Understanding the process helps you know what records to keep and when to seek a registered professional's guidance.
How the Australian tax year works
The Australian financial year runs from 1 July to 30 June. Your income, deductions, and entitlements are assessed within that period, not the calendar year. Most individuals receive a pre-filled return in myTax from around late July, once employers, banks, and health funds have submitted their data to the ATO.
If your tax affairs are straightforward — salary or wages, interest income, a standard health insurance rebate — myTax through myGov is designed to handle that with information pre-filled from third-party sources. If your situation is more complex (multiple employers, rental properties, capital gains, foreign income, business income, or significant work-related claims), a registered tax agent is equipped to manage the additional requirements.
Key lodgement deadlines
- 31 October — general deadline for individuals lodging their own return via myTax or paper.
- Registered tax agents negotiate extended deadlines with the ATO on behalf of their client base; using a registered agent commonly provides additional time beyond 31 October, though the agent must be engaged before 31 October to access their extended schedule.
- Prior-year returns — if you have outstanding returns from earlier years, the ATO expects these to be brought up to date. A registered tax agent can help prioritise lodgements and manage any related obligations.
Failing to lodge on time can attract failure-to-lodge penalties, even if no tax is ultimately owed.
What you generally need to lodge
| Category | Common examples |
|---|---|
| Income records | Payment summaries / income statements, bank interest, dividends, rent received |
| Work-related expenses | Receipts, logbooks, invoices for deductible items |
| Private health insurance | Annual tax statement from your insurer |
| Government payments | Centrelink payment summaries where applicable |
| Capital gains events | Records of the acquisition and disposal of assets |
The ATO's record-keeping guidance specifies that most records supporting a claim should be retained for five years from the date of lodgement.
myTax and the myGov portal
myTax is the ATO's free, web-based lodgement tool accessible through a myGov account linked to the ATO. It is available each income year from around 1 July. Third-party data — salary and wages, interest, dividends, HECS-HELP repayments, health insurance details — is pre-populated where the ATO has received it. Individuals review, amend where necessary, and submit.
myTax suits individuals with standard, low-complexity returns. For those with more involved affairs, or who simply prefer professional handling, a registered tax agent provides the same lodgement outcome alongside year-round support.
When a registered tax agent adds value
A registered tax agent (listed on the Tax Practitioners Board register) is authorised to prepare and lodge returns on your behalf, provide tax agent services, and represent you with the ATO. Beyond lodgement, a registered agent can assist with:
- Understanding which expenses are deductible in your occupation
- Handling capital gains calculations for investment properties or shares
- Managing rental property schedules
- Responding to ATO correspondence or reviews
- Bringing multiple outstanding returns into compliance
Tax agent fees are generally deductible in the income year they are paid, provided the return relates to income-earning activities.
Where to get help
Search for registered tax agents and practitioners serving clients in Australia through the TaxProsRated Australian directory. All listed professionals are independently registered with the Tax Practitioners Board.
Sources
- Australian Taxation Office: ato.gov.au
- Tax Practitioners Board (registered agent search): tpb.gov.au