How to Maximise Your 2025 Income Tax Return

Tips from a CPA and Aussie Mum Who’s Seen It All

Hi, I’m Ava — a Chartered Accountant with over 15 years of experience and a mum who knows how important every dollar counts when you're raising a family or building your future. Today, I’ll walk you through how to get the most out of your 2025 income tax return in Australia.

Whether you're an employee, a freelancer, or a small business owner, here are practical tips you can use before June 30 and when lodging your return.

✅ 1. Claim Every Deduction You’re Entitled To

The ATO allows deductions for expenses directly related to earning your income. Some commonly missed ones include:

• Home office expenses (internet, electricity, depreciation on furniture)
• Work-related travel and car expenses
• Tools and equipment (e.g., laptops, phones)
• Professional memberships and union fees
• Self-education if it relates to your current job

Tip: Keep detailed records or use apps to track receipts and logbooks.

💰 2. Prepay Expenses Before June 30

If you have regular expenses like:

• Income protection insurance
• Professional subscriptions
• Business-related services

…you can prepay up to 12 months and bring that deduction into the 2025 financial year. This is especially useful if you had higher income this year.

🧾 3. Don’t Forget Investment Deductions

If you invest in shares or property, remember to claim:

• Interest on investment loans
• Management fees or subscriptions
• Depreciation on rental property assets
• Repairs and maintenance costs

Just make sure they are genuinely related to income production — not capital improvements.

🏡 4. Use the Superannuation Tax Advantages

Adding to your superannuation fund can give you immediate tax benefits.

• You can make a personal concessional contribution (up to $27,500 including employer contributions) and claim it as a tax deduction.
• You’ll pay just 15% tax on that amount inside super — likely less than your marginal rate.

Make sure contributions hit your fund by June 30, and submit a notice of intent if claiming the deduction.

🧑‍⚕️ 5. Avoid the Medicare Levy Surcharge

If your income is above the threshold ($93,000 for singles or $186,000 for families in 2025) and you don’t have eligible private hospital cover, you may get hit with an extra 1–1.5% surcharge.

Getting basic hospital cover can often be cheaper than paying the surcharge.

📱 6. Use the ATO App and MyGov for Easy Lodgment

The ATO app is simple and user-friendly. You can:

• Snap and store receipts throughout the year
• Track your deductions
• Pre-fill income data through MyGov

It saves time and reduces the chance of missing deductions.

💼 7. Consider a Tax Agent or CPA

A good tax professional can:

• Spot deductions you missed
• Structure your finances better for the next year
• Help you stay audit-proof with accurate records

Tip: The fee you pay for a tax agent is also tax deductible next year!

🧠 Bonus Tip: Plan Ahead for 2026

Tax time isn’t just about the past year — it's your chance to plan smarter for the future. That includes:

• Tracking spending more effectively
• Starting a debt recycling strategy
• Considering family trust or investment structures

Final Thoughts from Ava 💡

Tax time doesn’t have to be stressful — with the right knowledge and preparation, it can actually be one of your biggest financial opportunities of the year.

If you found this helpful, don’t forget to like, subscribe, and check out more videos and articles where I help Aussie families and individuals grow their wealth smarter.

Let’s make tax simple — together.

See you next time!

— Ava, your friendly CPA 💼🌱