How to Do Your Tax Return in Australia in 2026 | Regans Accountants

Tax time can feel confusing, especially if you are not sure how to prepare and lodge your tax return. For the 2026 financial year, your tax return needs to include your income, deductions and other relevant tax information for the period 1 July 2025 to 30 June 2026.

This guide explains how to do your tax return in Australia, what documents to gather, when to lodge, and how to avoid common mistakes. Whether you lodge yourself through myTax or use a registered tax agent, understanding the process can make tax time much easier.

Preparing tax documents for 2026 tax return Australia

What Period Does the 2026 Tax Return Cover?

Your 2026 tax return covers income and expenses from 1 July 2025 to 30 June 2026. This means you report all earnings and deductions during this financial year.

When Do You Need to Lodge Your Tax Return?

• Most people who lodge their own tax return must do so by 31 October 2026.

• If you use a registered tax agent, you may get extra time to lodge, but you generally need to be on the tax agent’s client list before 31 October.

  
  

Waiting until your income statement is marked Tax ready by the Australian Taxation Office (ATO) is important. This means your employer has reported your income and tax withheld, so your tax return will be accurate and easier to complete.

Common Types of Income to Include

You must declare all income earned during the financial year. Common income types include:

• Salary and wages

• Allowances and bonuses

• Interest from bank accounts

• Dividends from shares

• Rental income from investment properties

• Income from sole trader or business activities

• Capital gains from selling assets like property or shares

• Cryptocurrency gains, losses or income

• Foreign income

  
  

Make sure you have documents like Income Statements from employers, bank statements, dividend statements, and rental income records ready.

What Tax Deductions Can You Claim?

Deductions reduce your taxable income. You can claim expenses that directly relate to earning your income, but you must keep records to support your claims. Common tax deductions Australia include:

• Car expenses for work travel (not commuting)

• Phone and internet costs related to work

• Working from home expenses (see next section)

• Uniforms and protective clothing

• Tools and equipment for your job

• Union fees and professional memberships

• Self-education expenses related to your current job

• Donations to registered charities

• Income protection insurance

• Rental property expenses like repairs and management fees

  
  

Working from Home Expenses

If you worked from home during the financial year, you can claim some expenses. You need to:

• Keep a record of hours worked from home

• Track expenses like electricity, internet, phone, and office supplies

• Use the ATO’s approved methods to calculate your claim, such as the fixed rate method or actual cost method

  
  

Accurate records help you claim the right amount and avoid issues if the ATO checks your return.

A tax agent discusses documents with a colleague in a brightly lit office overlooking a cityscape. The setting features an Australian flag and a kangaroo sculpture, adding a touch of regional charm.

Other Important Things to Check

• Private health insurance: Include your policy details to avoid paying the Medicare levy surcharge.

• Medicare levy surcharge: If you don’t have private health insurance and earn above a certain threshold, you may owe extra tax.

• HECS/HELP debts: Make sure your repayment amounts are correct if you have a student loan.

• Bank details: Double-check your bank account number and BSB before lodging to avoid delays in receiving your refund.

  
  

Should You Use myTax or a Registered Tax Agent?

You can lodge your 2026 tax return Australia using the ATO’s myTax online system if:

• Your tax situation is straightforward (e.g., salary income only)

• You don’t have complex deductions or business income

• You feel comfortable preparing your own return

  
  

Consider using a tax return accountant Gregory Hills or a registered tax agent Campbelltown if:

• You run a business or have rental properties

• You have complex investments or foreign income

• You want expert advice to maximise deductions and avoid mistakes

• You need extra time to lodge after 31 October

  
  

Common Tax Return Mistakes to Avoid

• Lodging too early before your income statement is Tax ready

• Forgetting to include all income sources

• Overclaiming deductions or claiming private expenses

• Using incorrect bank details for your refund

• Not keeping proper records to support your claims

  
  

Avoiding these mistakes saves you time and stress later.

Tax Return Checklist Australia

Before you start your tax return, gather these documents:

• Income Statements from employers

• Bank interest statements

• Dividend statements from shares

• Rental income and expense records

• Receipts for work-related expenses and deductions

• Records of working from home hours and costs

• Private health insurance policy details

• HECS/HELP loan statements

• Bank account details for your refund

  
  

Having everything ready makes lodging your tax return smoother.

If you want help lodging your 2026 tax return or claiming the deductions you are legally entitled to, contact Regans Accountants in Gregory Hills. You can also use our online portal to start your tax return today.