Your first tax return can feel intimidating. No one really explains it beforehand, and you’re expected to know terms like TFN, PAYG, and deductions without ever learning them. Once you break the process down, though, it’s far more straightforward than it first appears.
Each financial year — July 1 to June 30 — the Australian Taxation Office (ATO) needs to know how much you earned and how much tax your employer already withheld from your pay. A tax return compares the two. If your employer withheld too much tax, you get a refund. If they withheld too little, you may owe money.
If your employer withheld tax from your income during the year, you generally need to lodge a return, even if your total income was relatively low. Most people with a job need to lodge, including part-time and casual workers. It’s worth checking rather than assuming you’re exempt.
A tax file number (TFN). You should have set this up when you started your first job. If you don’t have one yet, apply for it through the ATO before you lodge.
Your income statement. Your employer reports your income directly to the ATO. You can usually find it through myGov once it’s finalised at the end of the financial year.
Bank account details. For any refund to be paid into.
Records of work-related expenses. Even as a first-time lodger, you may be entitled to claim things like uniforms, tools, or a portion of phone and internet costs used for work.
Forgetting to declare all income. This includes side jobs, bank interest, or any government payments you received during the year. The ATO can already see all of it, even if you don’t mention it.
Not keeping receipts. Without proof, the ATO can disallow a deduction even if the expense was genuine. Start keeping records from your very first pay cheque.
Missing the deadline. Self-lodged returns are generally due by October 31. Lodging through a registered tax agent extends this deadline.
Overclaiming out of uncertainty. Guessing at deductions rather than confirming them can cause problems later. Ask instead of assuming.
A tax agent can be particularly useful for your first return. They’ll explain what applies to your specific situation and set a clear pattern for what to track going forward — something that pays off well beyond just this year’s refund.
EBATS helps first-time lodgers understand exactly what applies to their situation, with clear, plain-English guidance and no jargon.
📍 Suite 2.2/47 Queen St, Campbelltown NSW 2560, Australia 📞 0404 471 816 🌐 www.ebats.com.au 📧 [email protected]
Ethical Accounting & Taxation Services | Campbelltown NSW | Trusted Tax, Accounting & Business Support Since 2011