EOFY panic? How to do your first tax return without freaking out | UniSC | University of the Sunshine Coast, Queensland, Australia

It might not be as much fun as the End of Financial Year retail sales, but lodging a tax return is an EOFY must for most working Australians, including many university students with casual, part-time or full-time jobs. 

There’s pretty good motivation for cash-strapped, working students who may even be owed a refund and perhaps see a nice bank balance boost for 2025-26. 

We’ve been examining the latest Australian Tax Office requirements to provide some valuable information and steps to follow for individuals and small business owners, particularly people new to the process who may be feeling stressed or confused. 

How to lodge a tax return for the first time

We know that tax time can be filled with equal parts excitement and fear, anticipation and procrastination. Will you receive a tax refund or is there a potential tax bill on the horizon? Either way, most Australians, and many temporary or foreign residents will need to lodge an income tax return, or a non-lodgement advice.  

To get started, use the Australian Taxation Office (ATO) tool to find out if you are required to lodge a return. Then find your Tax File Number (or apply for one) and link the ATO to your myGov account (or create one). Check out the ATO’s new to tax and super page. 

You can decide whether to lodge your return through a tax agent or DIY online through myTax (through myGov), through the ATO app, as a paper return. The deadline for lodging or engaging an agent is 31 October 2025. 

Do uni students need to lodge a tax return in Australia?

Are you a student from overseas? Depending on your visa and if you have been studying in Australia for more than six months, many international students will need to declare their income with the ATO through a tax return.

How much tax you pay depends on your residency status, how long you are in Australia, and where you earn your income. There are many different scenarios here and you may want to talk to a tax agent. 

What about super and HELP for students? 

If you earn income, your employer will make super contributions for you. Super is like savings for your retirement. If you are an overseas student, you can apply to access this super when you depart Australia.

If you are Australian, you will have to wait … possibly until you turn 60 years old and retire. Those already working may have made extra super contributions. Are they taxable or tax-free? Get all the documentation from your super fund and check on the ATO website or with your tax agent. 

If you have received support under the Higher Education Loan Program (HELP), you might want to check how much you owe by logging into myGov and going to the ATO page. Visit the Australian Government FAQs to find out how the 20% reduction might impact you. Take a look at your current balance and find out how recent indexation changes have affected what you owe. 

Checklist: How to prepare your tax return 

1. Read the ATO’s ‘tax time priorities for 2025’. The priorities focus on areas where people have made errors in the past. Work-related expenses, working from home deductions and side hustles are big ones. Does your claim have a close connection to how you earn income? Does it ‘pass the pub test’? The ATO has made it clear that an air fryer, for example, generally won’t make the cut for a mechanic, nor swimwear for a truck driver! 
2. Gather all your income information. Resist the urge to book your appointment for 1 July. Your employer needs time to finalise your PAYG Payment Summary or Income Statement, (previously known as Group Certificate). While you wait, gather up other sources of income that you must declare, for example rental income, dividend payments, a trust distribution, any others. Even though a lot of income prefils into your online tax return from banks or the government (such as payments, pensions and allowances), you still need to check they match what you expect. 
3. Collect all your deductions and work expenses. These are the things you have spent money on during the year that you needed to do your job. Deductions can be tricky. Know the rules about records such as receipts that must be kept and include them only if ‘incurred’ as part of your work. Consider any dollar value limits on your claim, different methods you may use to calculate the expense, and any exclusions. 
4. Decide what to claim. Common work-related deductions are for car, transport and travel expenses and clothes and items you wear or use at work. With transport, have you kept a record of travel dates and times? Did you maintain a vehicle logbook? With clothing, were the uniforms compulsory or registered with the ATO? Was protective clothing directly related to protecting you from risks at work? Take into account any allowances received from your employer, such as for travel, equipment or vehicles. You may need to include them in the Income section too.   
5. Working from home expenses can be tricky in the modern working environment. Find out more here about whether you are eligible to claim, what can be claimed and allowable methods. Consider other deductions such as professional memberships, cost of managing tax affairs, gifts and donations. For gifts and donations, donations over $2 are tax deductible, but the recipient must be registered – check here: Deductible gift recipient. 
6. Do you have a side hustle? Maybe you took advantage of the supermarket egg shortage to sell your backyard chicken eggs to your work colleagues? Is it simply a hobby or are there tax implications? Talk to your tax agent and keep in mind any other considerations like council approvals, registrations or insurance. 
7. Take note of the Medicare Levy Surcharge. How much you pay will depend on your circumstances including income. Having private health insurance that includes hospital cover can prevent you having to pay MLS. 

Remember, it is your responsibility to provide complete and accurate information – even if you use a tax agent. 

What happens next?

Double check before lodging that your records are transparent and that you have evidence for items included in your return. Australia operates on a self-assessment system. If you make or find a mistake, contact the ATO as soon as possible to amend the error. 

Public tax clinic in Moreton Bay  

The University of the Sunshine Coast operates a student tax clinic with federal grant funding from the ATO, and is supported by the City of Moreton Bay Business Boost Initiative. The clinic provides services to individuals and small business owners in Moreton Bay and runs free workshops aimed at building tax compliance knowledge for the local region.  

Readers please note: This blog is not advice. It is information linked to ATO requirements and resources. The academics are not registered tax agents.