Need help maximising your tax return this 2026?

Things you need to know before lodging your tax return:

1. Wait until your income statement is tax-ready

Before lodging, make sure your employer has finalised your income statement in myGov. If you lodge too early, some income may be missing, which could delay your refund or cause issues later. The ATO says employers generally need to finalise income statements by 14 July each year.

2. Prepare your receipts and records

If you want to claim work-related deductions, you need proper evidence. This may include receipts, invoices, bank statements, logbooks, or records showing how the expense relates to your work. The ATO generally requires taxpayers to keep records for 5 years after lodging.

3. Know what you may be able to claim

Depending on your job and situation, you may be able to claim work-related expenses such as uniforms, tools, equipment, phone, internet, car expenses, work-from-home expenses, training, or protective items. These claims must be directly related to earning your income and not already reimbursed by your employer.

4. Working from home? Keep proper records

If you work from home, you may be able to claim using the ATO’s fixed rate method or actual cost method. For recent income years, the fixed rate method uses a set rate per hour worked from home, but you still need records of your hours and eligible expenses.

5. Don’t just chase the fastest refund

A fast refund does not always mean a maximised refund. What matters more is that your tax return is accurate, compliant, and properly reviewed based on your actual work, income, and expenses.

6. Tell your accountant about all your income

This includes wages, ABN income, side hustles, bank interest, dividends, rental income, crypto, shares, foreign income, or any other income you earned during the financial year. Leaving out income can cause problems with the ATO later.