When is your tax return due in Australia? Here's what you need to know

Have you done your tax return yet?

The deadline for submitting your 2024–25 tax return without penalty is getting close.

Here is what you need to know.

When do I have to do my taxes by?

October 31 — that is this Friday.

But that is only if you are doing it by yourself.

If you are getting a tax accountant to submit it for you, you will have more time, as long as you have booked your appointment by October 31.

What happens if I file my tax return late?

You could cop a fine of $330 — or more.

With every 28-day delay, the fine increases.

The penalty caps out at $1,650 for individuals.

But the Australian Taxation Office (ATO) says it generally does not apply penalties in isolated cases of late lodgement.

And it will warn you by phone, or in writing.

"We recognise that sometimes people don't meet their lodgement obligations on time, even with the best intentions," the ATO's website says.

How do I lodge my tax return?

There are three ways to do this:

• Lodge it online with myTax: You will prepare your own return via your myGov account.
• Lodge it via a registered tax agent: A professional tax agent will prepare and lodge your return. This will incur a fee, but you can claim that fee back on next year's tax return.
• Lodge a paper tax return: You can prepare your return on paper and lodge it via the mail.

When will I get my tax refund?

You are not guaranteed a refund when you submit your tax return — you may even end up with a tax bill because you owe the ATO money (more on that below).

But if you lodge your tax return online and are entitled to money back, it should be processed within two weeks.

If you lodge it via paper, it should be processed within 10 weeks of the ATO receiving it.

When do I have to pay my tax bill by?

If you have been given a tax bill by the ATO, the deadline for payment is November 21.

There are a few ways you can pay your tax bill, including:

• ATO's online services
• Electronic payment
• BPAY
• By phone
• In person at an Australian Post Office

Head here to find out which payment option is right for you.

What happens if I miss the payment deadline?

You will be charged interest on your tax debt.

If you do not pay your bill by November 21, your debt will compound daily at an annual rate of 10.61 per cent.

The ATO says to contact it before the due date so staff can help you while it is still manageable. This could mean setting up a payment plan.

What work-from-home expenses can I claim?

There are strict rules about this on the ATO's income and deductions page.

But essentially, it is anything that is directly related to your work or another income-generating activity.

Here are just a few things you may be able to claim as deductions.

• Work-related clothing
• Vehicle and travel expenses
• Self-education
• Home and mobile internet or data expenses
• Electricity and gas (energy expenses) for heating, cooling and lighting
• Stationery and computer consumables such as printer ink and paper

There are two ways you can claim a deduction:

1. The fixed rate method: Allows people to claim a fixed amount of 70 cents per hour for every hour they work from home.
2. The actual cost method: Taxpayers can claim each expense they have for working from home separately.

Three golden rules apply when it comes to claiming expenses for work, so keep them in mind:

• The expense must be related to your work (or other income-earning activity).
• You must not have been reimbursed by your employer.
• You must be able to prove that you spent the money — that means keeping receipts, invoices or statements.