How long does an ATO tax refund take?

Most electronic lodgements via myTax are processed within 2 weeks. The ATO's stated maximum is 50 business days for most returns. You can track your return status in myGov under 'ATO > Tax > Lodgements.' Some returns are selected for manual review and may take longer.

Do I need to declare cryptocurrency gains on my tax return?

Yes. The ATO treats cryptocurrency as a capital gains tax (CGT) asset. When you sell, exchange, or gift crypto, you may trigger a CGT event. Gains (or losses) must be declared in your tax return. If you held the asset for more than 12 months, you may be entitled to a 50% CGT discount. The ATO has access to data from Australian crypto exchanges and actively cross-checks declared income.

Can I claim home office expenses?

Yes, if you work from home. For 2024–25, you can use the ATO's fixed rate method of $0.70 per hour worked from home, which covers electricity, internet, phone, and stationery. Alternatively, you can use the actual cost method if you have detailed records. You cannot claim the space itself (e.g., rent or mortgage interest) unless it is a dedicated home office used exclusively for work.

What records do I need to keep for tax deductions?

The ATO requires that you spent the money yourself (unreimbursed), that the expense is directly related to earning your income, and that you have a record to prove it. For work-related expenses under $300 total, receipts are not required — but reasonable records should still be kept. For amounts above $300, you need receipts, bank statements, or diary entries as evidence.

Tax Guide · 8 min read

Australian Tax Return Guide: How to Lodge, What to Claim & When to Expect Your Refund

Every year, millions of Australians lodge a tax return with the ATO. For many, it results in a refund — a welcome boost to savings or a chance to pay down debt. Understanding what to claim, how to lodge, and what to expect makes the process far less stressful. Here is everything you need to know for the 2024–25 financial year return.

Do You Need to Lodge a Tax Return?

Most Australians with any taxable income during the financial year (1 July to 30 June) are required to lodge a tax return. You may not need to lodge if:

Your only income was government payments below the tax-free threshold
You have a non-lodgement advice on file with the ATO
You are covered by a specific exemption

If you are unsure, the ATO's online tool at ato.gov.au helps determine whether lodgement is required.

Key Deadlines

Important Tax Return Dates

31 OctoberStandard deadline for individuals lodging their own return via myTax

15 May (following year)Extended deadline available if using a registered tax agent — provided you are on their client list by 31 October

How to Lodge Your Return

Option 1: myTax (ATO's Online Platform)

myTax is the ATO's free, browser-based tax return system. It is accessible via myGov (linked to the ATO) and pre-fills most information automatically — including income from employers, bank interest, dividend payments, and HECS repayments. For most salary-and-wages employees, myTax takes 20–30 minutes to complete.

Option 2: Registered Tax Agent

Using a registered tax agent is advisable if you have complex affairs — rental properties, investment portfolios, trust distributions, or business income. Tax agent fees are themselves tax-deductible in the following year.

Option 3: ATO-Approved Tax Software

Several ASIC-registered apps and platforms offer guided tax return lodgement. Ensure any third-party software is ATO-approved and the operator is a registered tax agent if they are providing advice.

What Income Must You Declare?

All taxable income must be declared, including:

✓Salary and wages (pre-filled from your employer's payroll reports)
✓Interest income from savings accounts
✓Dividends (including franking credits)
✓Rental income (gross, before expenses)
✓Capital gains from sale of shares, property, or other assets
✓Business income (if self-employed or operating as a sole trader)
✓Freelance or contractor income (even if no PAYG withholding was applied)
✓Cryptocurrency gains (treated as CGT events by the ATO)

Key Deductions You Can Claim

Deductions reduce your taxable income, which reduces the tax you owe. Common claimable deductions:

Work-related expenses

•Home office expenses ($0.70/hr fixed rate method for 2024–25, or actual cost method)
•Work uniforms and protective clothing (and laundry costs)
•Tools, equipment, and technology used for work
•Professional development courses, conferences, and subscriptions
•Union fees and professional membership costs
•Work-related travel (not ordinary commuting between home and regular workplace)

Investment-related deductions

•Rental property expenses (interest, rates, maintenance, depreciation)
•Investment account and brokerage fees (if the investment generates taxable income)
•Interest on loans used for investment purposes

Other deductions

•Income protection insurance premiums (if not paid through super)
•Charitable donations of $2 or more to deductible gift recipients (DGRs)
•Tax agent fees (claimed in the year following the fee)

What you cannot claim: personal expenses (everyday clothing, personal travel, meals), capital losses on personal use assets, or fines and penalties.

The ATO's Three Golden Rules for Work Deductions

You must have spent the money yourself (not reimbursed by your employer)

The expense must be directly related to earning your income

You must have a record to prove it (receipts, bank statements, diary entries)

For deductions under $300 in total work-related expenses, receipts are not required — but reasonable records should still be kept.

How Long Does an ATO Refund Take?

If you lodge via myTax and your return is straightforward:

2 weeks: Typical processing time for electronic lodgements
50 business days: Maximum processing time specified by the ATO for most returns
Manual review: Some returns are selected for manual review and may take longer

You can track your return status in myGov under "ATO > Tax > Lodgements."

What If You Have a Tax Debt?

If you owe money to the ATO, a tax debt appears when you lodge your return. The ATO offers payment plan arrangements for those who cannot pay in full immediately. Penalties and the General Interest Charge (GIC) apply to unpaid amounts after the due date — so it is important to either pay promptly or contact the ATO to arrange a plan.

Related Guides & Tools

→ How Income Tax Works in Australia → What Affects Your Take-Home Pay → HECS/HELP Debt Explained → Use the Salary & Tax Calculator

Frequently Asked Questions

The standard deadline for individuals lodging their own return via myTax is 31 October each year. If you use a registered tax agent and are on their client list by 31 October, an extended deadline of 15 May (of the following year) typically applies. Missing the 31 October deadline without using a registered tax agent or applying for an extension can result in a failure-to-lodge penalty.

Disclaimer: This content provides general information only and does not constitute financial, tax, or legal advice. Calculations are based on ATO 2025–26 rates and are estimates only. Individual circumstances vary. Always consult a registered tax agent or financial adviser for personalised advice. This service is provided by SWIFT ACCOUNTANTS PTY LTD (ABN 35 619 346 637).