It is nearly tax time!

Did you know you can earn up to $18,200 tax-free? After which there is a higher scale of tax rates, so it’s important you claim back any tax due after the end of the tax year, 30 June.

When can I lodge your taxes?

The time to do your tax return and claim back on tax is from mid-July to 31 October, when tax summaries are on your MyGov account, or you have received tax summaries direct from your employer/s.

How can I lodge my taxes?

You can lodge your tax return easily online with MyTax but if it is more complicated and you are not sure what you can claim, it might be worth hiring a tax accountant. Check the cost first and determine if it is worth it for you. A lot of information on income declarations and eligible deductions is available on the Australian Tax Office website.

Tax Help Program

While it might sound daunting if it is the first time you are doing a tax return, don’t procrastinate, there is help available from the Australian Tax Office through their Tax Help program if you earn less than $60,000 a year and meet their eligibility requirements

If you are eligible for the Tax Help program you will need to make an appointment and also create a MyGov account and link it to the ATO. A lot of information is entered directly into your MyGov account which makes it easier to do your tax return.

If you are not eligible for Tax Help you may qualify for assistance from a National Tax Clinic program.

International Students

International Students are eligible to claim a full tax return on earnings up to $18,200 if considered a resident for tax purposes i.e. continuously resided in Australia for a period of 183 days (6 months) and can also register for a MyGov account if have a Tax File Number or TFN as it is more commonly called.

Information guides:

Financial Counsellors at La Trobe

If you want more information on lodging your tax return or are struggling with the cost of living or any other financial issues, do not forget to contact Financial Counselling who will help you in working through your options.

For more information on the range of services, Financial Counselling can provide or register for an appointment, visit our Financial Counselling website.