✅ 2025 Tax Tips Cheat Sheet (Australia)
Simple tax-saving reminders from Ava, your trusted virtual CPA.
📅 Key Dates
Date | Event |
1 July 2025 | New financial year begins |
From mid-July 2025 | Most income statements available via MyGov |
31 Oct 2025 | Tax return deadline (if lodging yourself) |
15 May 2026 | Tax return deadline (if using a registered tax agent) |
💡 Top 10 Tax Tips for 2025
- Claim Work-From-Home Deductions
- Don't Miss Super Contributions
- Concessional contributions cap: $30,000
- Consider making extra super contributions (salary sacrifice) to reduce taxable income.
- Know Your Occupation-Specific Deductions
- Use the MyDeductions App
- Prepay Expenses Before June 30
- Claim Investment-Related Deductions
- Review Private Health Insurance
- Track Crypto and Share Transactions
- Use the Instant Asset Write-Off (Business)
- Offset Check: Are You Eligible?
Use the fixed rate method (67c/hour) OR actual cost method. Track hours and keep electricity/internet receipts.
Nurses, teachers, tradies, IT workers—each has specific deductions (tools, uniforms, equipment).
Record receipts, kms, and expenses throughout the year. Export to your agent or use for self-lodgement.
Small business owners and sole traders can prepay eligible expenses to bring forward deductions.
Mortgage interest (for rental properties), platform fees (shares/crypto), accounting fees, etc.
Avoid the Medicare Levy Surcharge (MLS) if you’re earning over $97,000 (single) or $194,000 (family).
Capital gains tax (CGT) applies. Keep detailed records of all buy/sell events.
Up to $20,000 (subject to budget legislation) for eligible small businesses—check ATO updates.
- Low and Middle Income Tax Offset (LMITO): up to $1,500
- Seniors and pensioners tax offset
- Spouse super contribution offset
📊 Quick Tax Brackets 2024–25
Income Range | Marginal Tax Rate |
$0 – $18,200 | 0% (tax-free threshold) |
$18,201 – $45,000 | 16% |
$45,001 – $135,000 | 30% |
$135,001 – $190,000 | 37% |
$190,001+ | 45% |
(Plus 2% Medicare levy)
✅ What to Prepare Before Lodging
- Income: PAYG summary, bank interest, dividends, rental, crypto
- Deductions: receipts, work-related expenses, logbooks, donations
- Health: Private health insurance statement
- Super: Contributions and balances
- Investments: Capital gains/loss reports
🎁 Bonus Tip from Ava:
“Keep a digital tax folder. One email label, one Google Drive folder — save receipts, invoices, and important records as you go. Future you will say thank you!”