EOFY 2026: Tax Return Deadline & Tips

Here are the dates that matter for the 2025-26 tax year:

• 30 June 2026 — End of the 2025-26 financial year. Last day to make concessional super contributions, prepay expenses, and lock in deductions for this tax year.
• 1 July 2026 — Start of the 2026-27 financial year. ATO pre-fill data starts becoming available (employer income statements, bank interest, health insurance, dividends).
• Mid-August to September 2026 — Most pre-fill data available in myTax. If you lodge early, you may need to check and update once all data comes through.
• 31 October 2026 — Deadline to lodge your tax return if you're self-lodging through myTax.
• 15 May 2027 — Extended deadline if you lodge through a registered tax agent (provided you were registered with the agent before 31 October).

If you had a tax debt in the previous year or have outstanding lodgements, your deadline may be earlier — check with the ATO or your tax agent. Late lodgement can result in a Failure to Lodge (FTL) penalty of $313 per 28-day period up to a maximum of $1,565.

Several significant changes affect the 2025-26 financial year:

Stage 3 tax cuts (second full year). The revised Stage 3 tax cuts that took effect on 1 July 2024 continue to apply. The key rates for 2025-26 are:

• 0% on income up to $18,200
• 16% on $18,201 to $45,000
• 30% on $45,001 to $135,000
• 37% on $135,001 to $190,000
• 45% on income above $190,000

Use our Tax Calculator to see exactly how these rates affect your take-home pay.

HECS/HELP indexation cap. Following the 2024 changes, HELP debt indexation is now capped at the lower of CPI or the Wage Price Index (WPI). For 2025-26, this means a significantly lower indexation rate compared to the 7.1% applied in June 2023.

$20,000 instant asset write-off. Small businesses (aggregated turnover under $10 million) can immediately deduct the full cost of eligible depreciating assets costing less than $20,000 each, provided they're installed and ready for use by 30 June 2026.

Superannuation guarantee at 12%. The SG rate reached its final legislated increase to 12% on 1 July 2025. Employers must contribute 12% of ordinary time earnings.

If you work from home, you can claim a deduction using one of two methods for 2025-26:

Method 1: Fixed rate method (67 cents per hour). This is the simplified method most people use. You claim 67 cents for every hour you work from home, which covers electricity, internet, phone, stationery, and computer consumables. You must keep a record of your actual hours worked from home — a timesheet, roster, diary, or time-tracking app. On top of the 67c rate, you can separately claim the work-related portion of depreciation on equipment (laptop, monitor, desk, chair) and repairs.

Method 2: Actual cost method. You calculate the actual work-related proportion of every expense — electricity, internet, phone, office furniture depreciation, repairs, cleaning of a dedicated home office, and so on. This method requires detailed records and receipts for every expense. It can produce a larger deduction if you have a dedicated home office and high running costs, but the record-keeping burden is significant.

Which method is better? For most people working from home 3-5 days per week, the 67c fixed rate plus separate equipment depreciation claims tends to be simpler and often comparable. If you work from home full-time and have a dedicated office space with high running costs, the actual cost method may produce a higher deduction. Use our Tax Calculator to model both scenarios.

These are legitimate deductions that millions of taxpayers forget to claim or don't know they're entitled to:

1. Income protection insurance premiums — if you hold income protection insurance outside super, premiums are fully deductible.
2. Union fees and professional association memberships — fully deductible if related to your current employment.
3. Working from home expenses — even if only 1-2 days per week, you can claim 67c per hour for those hours.
4. Self-education expenses — courses, textbooks, and fees directly related to your current job (not a new career) are deductible. The $250 non-deductible threshold was removed from 1 July 2022.
5. Tools and equipment under $300 — items costing $300 or less that you use for work can be claimed in full immediately (not depreciated).
6. Sun protection — if you work outdoors, sunscreen, hats, and sunglasses are deductible.
7. Car expenses for work travel — not commuting, but travel between work sites, to meetings, or to clients. The cents-per-km rate for 2025-26 is 88 cents per kilometre (up to 5,000 km).
8. Phone and internet — the work-related percentage of your personal phone and internet bills. Keep a 4-week diary to establish the work percentage.
9. Overtime meal expenses — if your award or agreement includes an overtime meal allowance and you actually spent money on a meal, you may be able to claim.
10. Tax agent fees — the cost of your tax agent preparing last year's return is deductible this year.

The end of the financial year is your last chance to maximise tax-effective super contributions for 2025-26.

Concessional (before-tax) contributions: The cap is $30,000 per year for 2025-26. This includes your employer's SG contributions (12%), any salary sacrifice, and personal deductible contributions. Concessional contributions are taxed at just 15% inside super, compared to your marginal tax rate of up to 45% outside super — so the tax saving can be substantial.

If you didn't use your full concessional cap in previous years (from 2018-19 onwards), you can carry forward unused amounts, provided your total super balance was under $500,000 at the previous 30 June. This means you could potentially contribute well above $30,000 in a single year.

Non-concessional (after-tax) contributions: The cap is $120,000 per year (or $360,000 using the bring-forward rule over 3 years) for those with a total super balance under $1.9 million.

Super co-contribution: If your income is under $60,400 and you make a personal (non-concessional) contribution, the government will contribute up to $500 to your super. Use our Super Co-contribution Calculator to check your eligibility.

Critical: Your super fund must receive the contribution by 30 June — not just be debited from your account. Allow at least 3-5 business days for processing, meaning contributions should be made by around 23-24 June at the latest.

If you have a HECS-HELP, FEE-HELP, VET Student Loan, or other study debt, compulsory repayments are deducted through the tax system when your income exceeds certain thresholds.

The 2025-26 repayment thresholds and rates are:

• Below $54,435 — no compulsory repayment (0%)
• $54,435 to $62,850 — 1.0%
• $62,851 to $66,620 — 2.0%
• $66,621 to $70,618 — 2.5%
• $70,619 to $74,855 — 3.0%
• $74,856 to $79,346 — 3.5%
• $79,347 to $84,107 — 4.0%
• $84,108 to $89,154 — 4.5%
• $89,155 to $94,503 — 5.0%
• $94,504 to $100,174 — 5.5%
• $100,175 to $106,185 — 6.0%
• $106,186 to $112,556 — 6.5%
• $112,557 to $119,309 — 7.0%
• $119,310 to $126,467 — 7.5%
• $126,468 to $134,056 — 8.0%
• $134,057 to $142,100 — 8.5%
• $142,101 to $150,626 — 9.0%
• $150,627 to $159,663 — 9.5%
• $159,664 and above — 10.0%

Use our HECS Calculator to see your compulsory repayment amount and how long it will take to pay off your debt at your current income. Remember, the HECS indexation cap (lower of CPI or WPI) means your debt won't grow as fast as it did in 2023.

The Medicare Levy Surcharge (MLS) is an additional tax of 1% to 1.5% on top of the standard 2% Medicare levy, charged to higher-income earners who don't hold an appropriate level of private hospital insurance.

For 2025-26, the MLS applies if your income for MLS purposes exceeds:

• $93,000 for singles — 1.0% surcharge ($93,001-$108,000), 1.25% ($108,001-$144,000), 1.5% (above $144,000)
• $186,000 for families — 1.0% surcharge ($186,001-$216,000), 1.25% ($216,001-$288,000), 1.5% (above $288,000)

The family threshold increases by $1,500 for each dependent child after the first.

If your income is approaching these thresholds, it's often cheaper to take out basic private hospital cover than to pay the surcharge. For example, on an income of $100,000, the MLS would cost $1,000 per year — while a basic hospital policy can cost as little as $800-$1,200 per year, with the benefit of actually having hospital cover.

Use our Medicare Levy Calculator to see whether you'd save money by taking out private health insurance. Also consider the Lifetime Health Cover loading — for every year you're aged over 31 without hospital cover, you pay a 2% loading on top of premiums when you eventually do take out cover.

Complete this checklist before 30 June 2026 to maximise your tax position:

1. Review your income. Check your year-to-date payslips. If you're close to a tax bracket threshold, consider salary sacrificing to super to bring your taxable income down.
2. Maximise super contributions. Check how much concessional contribution cap you have left (your employer contributions count). Make personal contributions by 23-24 June at the latest.
3. Prepay deductible expenses. If you can, prepay income protection premiums, professional memberships, or work-related subscriptions before 30 June.
4. Buy work-related equipment. Need a new laptop, tools, or work gear? Purchase before 30 June to claim in this tax year. Items under $300 are fully deductible immediately.
5. Review your WFH records. Make sure your work-from-home hours log is up to date. You need actual records — a reasonable estimate is not enough.
6. Check your private health insurance. If your income is above the MLS threshold, make sure you had compliant hospital cover for the full year. Your insurer will provide a statement to the ATO.
7. Gather donation receipts. Donations of $2 or more to registered DGR charities are tax deductible. Check you have receipts for everything you donated this year.
8. Capital gains planning. If you've sold shares or property, check whether holding for 12+ months qualifies you for the 50% CGT discount. Consider realising capital losses to offset gains.
9. Update your details. Make sure your TFN, address, and bank details are current with the ATO and your employer.
10. Book a tax agent. If you're using a tax agent, register with them before 31 October to get the extended deadline of 15 May 2027.

Use our Tax Calculator to estimate your tax refund or bill based on your current income and deductions.