Tax & Financial Reporting
Individual Tax Returns in Melbourne
An individual tax return reports your income, claims deductions you are entitled to, and calculates whether you owe tax or are due a refund. The ATO reports the average individual tax refund was $2,574 in the 2023–24 income year. A registered tax agent in Melbourne ensures every legitimate deduction is claimed and your return is lodged correctly.
Get a Free ConsultationWho Needs to Lodge an Individual Tax Return?
Most Australian residents who earned income during the financial year — wages, investment income, rental income, or business income — are required to lodge a tax return with the ATO. Even if you paid no tax and expect no refund, lodgement may be required. The deadline is 31 October for individuals lodging on their own; using a registered tax agent extends this deadline.
Maximising Your Deductions — Legally
The ATO's data-matching program compares deductions against industry benchmarks. Claiming too little leaves money on the table; claiming without substantiation triggers audits. We know which deductions apply to Melbourne's most common occupations — healthcare workers, IT professionals, tradies, teachers, and finance workers — and we ensure every claim is backed by the correct records.
Common Deductions Melbourne Residents Overlook
Working-from-home expenses (using the ATO's revised fixed rate of 70 cents per hour from 2022–23 onwards), professional development and licensing fees, union subscriptions, and income protection insurance premiums are frequently under-claimed. Investment property owners often miss depreciation schedules, borrowing costs, and travel to inspect properties. We review your situation comprehensively, not just the obvious items.
Investment Income, Crypto, and Capital Gains
Share portfolios, managed funds, and cryptocurrency holdings all generate taxable events that must be reported. Capital gains on assets held for more than twelve months qualify for the 50% CGT discount. We reconcile investment platform reports, calculate discounted gains, and correctly apply any capital losses from prior years.
Tax Lodgement Deadlines and Agent Extensions
Individuals lodging without an agent must lodge by 31 October. Clients of a registered tax agent benefit from extended lodgement deadlines — in many cases to 15 May of the following year. We manage lodgement scheduling across our entire client base to ensure no one is caught by a penalty.
Written by Faisal Saleem, CPA · Last updated: 15 May 2026
How it works
Information Gathering
We send you a personalised checklist covering your income sources, deductions, and investment activity for the year. Pre-filling from the ATO is used to capture employer, bank, and government data automatically.
Deduction Review
We review every potential deduction against your occupation, income sources, and records — including items you may not have considered — and confirm substantiation requirements before lodging.
Return Preparation and Explanation
We prepare your return and walk you through the outcome before lodging. You understand exactly what is being claimed and why, and receive a copy for your records.
Lodgement and ATO Liaison
We lodge electronically through the ATO's practitioner system. If the ATO has questions or initiates a review, we handle all correspondence on your behalf.
Frequently asked questions
What is the average tax refund in Australia?
The ATO reported the average individual tax refund was $2,574 for the 2023–24 income year. Refund amounts vary significantly based on income level, deductions claimed, and PAYG withholding amounts — some Melbourne taxpayers receive substantially more.
When is the tax return deadline in Melbourne?
The individual tax return deadline is 31 October for people lodging on their own. Clients who use a registered tax agent benefit from extended lodgement deadlines — typically to 15 May the following year — provided they are on the agent's client list before 31 October.
Can I claim working-from-home expenses?
Yes. From the 2022–23 income year, the ATO's revised fixed rate method allows a deduction of 70 cents per hour for every hour worked from home, covering electricity, internet, phone, and stationery. You must keep a record of actual hours worked from home — a timesheet, roster, or diary is acceptable.
Do I need to declare cryptocurrency on my tax return?
Yes. The ATO treats cryptocurrency as an asset for capital gains tax purposes. Disposing of crypto — whether by selling, trading, or using it to buy goods or services — triggers a CGT event. Gains on assets held for more than twelve months may qualify for the 50% CGT discount.
What happens if I miss the tax return deadline?
The ATO imposes a failure-to-lodge penalty of $330 for each 28-day period a tax return is overdue, up to a maximum of $1,650. Interest may also be charged on any tax debt. Registering with a tax agent before the October deadline can provide an automatic extension.
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