Feeling Overwhelmed About 2025 Tax Returns?
Have you ever felt that creeping sense of dread when tax season looms? That moment of panic when you realise July is just around the corner—and your shoebox of receipts still hasn’t magically sorted itself? You’re not alone. With 2025 fast approaching, Australians from all walks of life—especially creatives and business owners—are starting to ask that pivotal question: “When can I do my tax return for 2025?”
At RR Eleven, we understand how tax season can be a blend of confusion, stress, and spreadsheets. Whether you’re an individual, managing a small and big business, we’re here to untangle the jargon, explain your options, and help you take control.
Why Lodging Your 2025 Tax Return Matters More Than You Think
Your tax return isn’t just a once-a-year obligation—it’s a key part of managing your financial life and fuelling Australia’s public services. Lodging correctly and on time means you can:
- Receive your refund sooner (ideal if you’ve had too much tax withheld).
- Avoid fines for late or incorrect submissions.
- Access entitlements like the Low and Middle Income Tax Offset or other industry-specific deductions.
If you’re self-employed, your tax return becomes even more important—it’s your business snapshot. Lodging accurately helps you make data-driven decisions, secure funding, and stay compliant, all while maintaining healthy cash flow.
So, When Can I Do My Tax Return in 2025?
The Australian financial year runs from 1 July 2024 to 30 June 2025. You can begin lodging your 2025 return from 1 July 2025.
Here’s a quick guide to key lodging dates:Tip: If you’re planning to use a tax agent, register with them before 31 October 2025 to qualify for the extended lodgement period into 2026.
What You Need to Lodge Your Tax Return
Before you rush to hit “Submit,” gather these essentials:
For Individuals
- Income Statements
- PAYG Summaries (if applicable)
- Interest and Dividends from bank accounts or shares
- Private Health Insurance details
- Super Contributions records
- Receipts for deduction
For Businesses & Freelancers
- Sales and revenue reports
- Expense records: Office supplies, marketing, software subscriptions, etc.
- Business vehicle usage logs
- Home office expenses (e.g., internet, utilities, space allocation)
- Bank statements and credit card summaries
- BAS and GST records (if registered)
Lodging Online with myID (formerly myGovID)
The ATO now uses myID, a secure online portal that replaces the older myGovID system. With myID, you can:
- View income summaries
- Lodge your return
- Track your refund
- Access ATO tools and calculators
- Amend past returns
Setting it up is straightforward and gives you the convenience of lodging from your laptop, phone, or tablet—no paper, no stress.
Claims: How Do They Work for Individuals and Businesses?
For Individuals: Claiming Work-Related Deductions
You may be entitled to deduct expenses you incurred in earning income. To be eligible, your deductions must be:
- Directly related to your income
- Not reimbursed by an employer
- Supported by records (like receipts or diary entries)
Common Individual Claims:
- Home office expenses: Internet, electricity, furniture
- Travel and transport: For work-related trips (not to/from office)
- Tools and equipment: Cameras, laptops, instruments, etc.
- Uniforms or costumes: If required and distinctive
- Professional development: Courses, seminars, or training relevant to your role
- Subscriptions: Industry magazines, Spotify (if you’re a DJ, for example), or domain hosting if you’re a web designer
For Businesses: What You Can Claim
Business expenses can include nearly anything that contributes to generating income, provided it’s substantiated. The ATO allows you to deduct these costs from your business income, reducing your taxable profit.
Key Business Deductions:
- Rent or co-working space costs
- Marketing and branding: Website hosting, ads, design fees
- Software and tech: Xero, Adobe Creative Cloud, Canva Pro
- Business insurance
- Depreciation: Larger purchases like a new laptop, vehicle, or sound equipment
- Super contributions for yourself (if self-employed)
- Wages or contractor payments
- Professional services: Accountants, legal advice, bookkeeping support
What About GST?
If you’re registered for GST, you’ll need to distinguish between GST-inclusive and GST-exclusive expenses. Also, any GST paid on purchases can usually be claimed back via your BAS (Business Activity Statement).
What If I Miss the Deadline?
Missing your 2025 return deadline (usually 31 October) can result in:
- Failure to Lodge (FTL) penalties (up to $1,565 for individuals)
- Interest on outstanding tax
- Delayed refunds
- Potential audits for repeat offenders
If you’re running late, the best thing you can do is communicate. Lodging through a registered tax agent often gives you more time—but only if you’re engaged with them early.
How RR Eleven Can Help
At RR Eleven, we’re not just tax experts—we’re champions for creatives and small businesses. Our specialised services are tailored to suit your unique financial rhythm.
Here’s what we offer:
- ✅ Ongoing bookkeeping and recordkeeping support
- ✅ Training, and integrations
- ✅ Tax planning and strategy sessions
- ✅ Creative-friendly advice that actually makes sense
- ✅ Support with ATO issues, amendments, and audits
Your Action Plan for 2025 Tax Season
- Mark key dates in your calendar—1 July is closer than you think.
- Start gathering documents now (receipts, invoices, super, etc.).
- Set up myID if you haven’t already.
- Digitise your records with tools like Xero or Hubdoc.
- Reach out for expert help if you feel overwhelmed.
At RR Eleven, we’re just an email or call away. Let us help you simplify, strategise, and smile through tax time.