2025 Tax Time Tips for Individuals – Maximise Your Refund with These Key Strategies
As the end of the 2024–2025 financial year approaches, now is the perfect time to review your personal tax situation and make sure you’re across what can help (or hurt) your tax refund. Whether you’re an employee, contractor, or rental property owner, understanding what you can legally claim is key to avoiding missed opportunities and unnecessary ATO scrutiny.
Here are some practical tax tips to help you get the most out of your 2025 tax return.
💡 1. Keep Track of Work-Related Deductions
If you’ve spent money as part of earning your income, you may be able to claim it—but only if you have evidence. Common deductions include:
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Work-related car use (logbook method or cents per kilometre)
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Home office expenses (fixed rate or actual costs)
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Union fees, professional memberships, tools or uniforms
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Courses directly related to your current role
💬 Tip: Keep receipts and written evidence—bank statements alone aren’t always enough in the event of an ATO review.
🏡 2. Renting Out a Property? Claim Smart
If you own an investment property, make sure to:
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Include all income (including short-term rental like Airbnb)
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Claim deductions for interest, repairs, depreciation and property management fees
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Keep a depreciation schedule from a qualified quantity surveyor if eligible
💬 Tip: Repairs made right after buying the property may not be deductible straight away—seek advice to avoid costly mistakes.
💻 3. Working From Home? Use the Right Method
If you work from home regularly, the revised fixed rate method (from 1 March 2023) is now 70c per hour, covering electricity, internet, phone and stationery.
💬 Tip: Keep a record of actual hours worked from home—estimates aren’t accepted. A four-week representative diary can help.
🧾 4. Prepay or Bring Forward Deductions
If you’re expecting a higher income this year, you may benefit from prepaying certain expenses before 30 June 2025. This can include:
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Income protection insurance
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Professional memberships or subscriptions
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Charitable donations
💬 Tip: Donations must be made to registered deductible gift recipients (DGRs) to be claimable.
💼 5. Report All Income – Including Side Hustles
The ATO is tightening focus on undeclared income from online platforms like Uber, Airtasker, Etsy, and OnlyFans. Income from these activities must be included in your return—even if it’s a side gig.
💬 Tip: If you’re regularly earning money this way, you may need an ABN and to consider GST registration.
📱 6. Use MyGov & Link to the ATO
Linking your MyGov account to the ATO can give you real-time access to:
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Income statements from employers
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Private health insurance info
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Interest and dividend reports
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HELP/HECS balances
💬 Tip: Your return can only be lodged once your income statement is marked “Tax Ready”—usually by mid-July.
✅ Final Tip: Use a Registered Tax Agent
A registered tax agent can help you understand what you’re legally entitled to claim, identify opportunities you may have missed, and ensure your return is compliant with current tax laws. Lodging through a tax agent also extends your due date beyond the usual 31 October deadline.
📌 Need Help With Your 2025 Tax Return?
If you’d like individual advice, or you’re unsure whether you’re claiming everything you should be, I’m here to help. I take the time to understand your situation and ensure your return is not just accurate—but working in your favour.
📩 Contact me at admin@bectax.com.au or book an appointment to get started.
⚖️ Disclaimer
The information provided in this article is general in nature and does not consider your specific financial circumstances. You should seek personalised advice from a registered tax agent or financial advisor before making any financial or taxation decisions.
