Reasons You Need to Lodge
Each income year, you need to assess your personal circumstances to determine if you need to lodge a tax return. You may need to lodge a tax return if:
- Tax Withheld: Any tax was taken out (withheld) from the income you received.
- Foreign Income: You had $1 or more of foreign income.
- Child Support: You pay or receive child support.
- Business or Investment Income: You had business or investment income.
- Study or Training Support Loan: You are leaving Australia and have a study or training support loan.
Information You Need to Lodge
Before lodging your tax return, be sure to understand what’s new for individuals this tax season.
To lodge your tax return, we recommend having all of the following information:
- Bank Account Details: Including BSB and account number.
- Income Statements or Payment Summaries: From all of your employers.
- Payment Summaries from Centrelink: From Services Australia.
- Receipts or Statements: For any expenses you are claiming as deductions.
- Your Spouse’s Income: If applicable, provide your spouse’s income details.
- Private Health Insurance Information: If you have cover.
Note: If you lodge your tax return online using myTax, most of this information will be pre-filled for you. To lodge online, you will need to link the ATO to your myGov account.
Please note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.
