What Can You Claim and When Should You Use a Tax Agent?
Preparing your tax return in Melbourne? Whether you're an employee, sole trader, freelancer, landlord or small business owner, understanding your tax obligations and potential deductions can help you lodge accurately and avoid costly mistakes.
Every year, Australians search for answers to questions such as:
- What can I claim on my tax return?
- Do I need a tax accountant?
- How much does a tax agent cost in Melbourne?
- Can I claim working-from-home expenses?
- When is my tax return due?
- How can I avoid mistakes on my tax return?
This guide answers these common questions and explains how to find a registered tax agent in Melbourne.
What Can I Claim on My Tax Return in Australia?
The deductions available to you depend on your circumstances, income and the expenses you have incurred.
Generally, an expense must meet the relevant tax rules, have a sufficient connection to earning assessable income and be supported by appropriate records.
Common categories that may qualify include the following.
#Work-Related Vehicle and Travel Expenses
If you use your vehicle for eligible work-related purposes, you may be entitled to claim certain expenses.
However, ordinary travel between home and your regular workplace is generally considered private travel and is not deductible.
The rules also depend on whether you're an employee or operating a business.
A registered tax agent can help you understand the appropriate calculation methods and record-keeping requirements.
Working-From-Home Expenses
Employees who work from home may be able to claim eligible additional running expenses.
Depending on the method used and the relevant rules, these may include electricity, internet, phone usage and other work-related costs.
You must maintain the records required for your chosen method and avoid claiming the same expense twice.
Work-Related Equipment
Eligible expenses for work-related tools, equipment and technology may qualify for deductions.
Examples can include computers, work-related equipment and certain professional tools.
The treatment depends on the cost, business or employment use, and applicable depreciation rules.
Professional Development and Education
Some self-education expenses may be deductible when they have the required connection to your current income-earning activities.
However, courses intended primarily to help you enter a new profession or obtain a new type of employment may not qualify.
Donations to Registered Charities
Donations to eligible deductible gift recipients may qualify for tax deductions.
Not every charitable contribution is automatically deductible, so check whether the recipient has the appropriate deductible gift recipient status.
Investment Property Expenses
If you own a rental property, certain expenses may qualify for deductions.
These can include eligible loan interest, property management fees, insurance and some repairs.
Different rules apply to capital improvements, depreciation and expenses relating to private use.
When Is My Tax Return Due?
For most individuals who lodge their own Australian tax returns, the usual deadline is 31 October following the end of the financial year.
Registered tax agents may have access to different lodgment dates for eligible clients.
If you're using a tax agent for the first time, it’s important to contact them before the usual deadline so they can advise whether you're eligible for their lodgment program.
Always confirm your actual deadline with the Australian Taxation Office or your registered tax agent.
Should I Lodge My Own Tax Return or Use an Accountant?
Many individuals can lodge their own tax return using the ATO’s myTax service.
However, professional assistance may be useful if you have:
- Multiple income sources
- Sole trader or business income
- Investment properties
- Capital gains or losses
- Trust or company interests
- Complex work-related expenses
- Overseas income
- Previous unlodged tax returns
A registered tax agent can help you understand your obligations and prepare an accurate return.
Can an Accountant Get Me a Bigger Tax Refund?
An accountant cannot legitimately guarantee a larger refund.
Your tax outcome depends on your actual income, tax paid, eligible deductions, offsets and other circumstances.
An experienced tax professional may identify legitimate claims you overlooked, but they must comply with the law.
Be cautious of anyone promising unusually large refunds without reviewing your records.
How Much Does a Tax Return Cost in Melbourne?
Tax return preparation fees depend on complexity.
A basic individual return may require less work than a return involving rental properties, business income, capital gains or multiple investment activities.
Ask for a quote before engaging a tax agent and clarify what the fee includes.
Eligible fees for managing your tax affairs may themselves be deductible in the income year in which they are incurred.
What Documents Should I Bring to a Tax Accountant?
Depending on your circumstances, useful documents may include:
- Identification and tax file number details
- Income statements
- Bank interest and dividend records
- Receipts for potential deductions
- Vehicle or travel records
- Working-from-home records
- Private health insurance information
- Rental property income and expense statements
- Business income and expense records
- Details of capital asset disposals
- Previous tax returns, where relevant
Having organised records can help your tax agent prepare your return more efficiently.
Where Can I Find a Tax Agent Near Me in Melbourne?
Melbourne Local Guide lists tax and accounting businesses throughout Greater Melbourne.
For example, its directory includes Hume Tax Services in Coolaroo, STP Tax in Brunswick, Taxhouse Group Accounting in Coburg, Taxviser in South Morang, Murtaza Haider Accounting in Dandenong and several R J Sanderson offices.
You can explore professionals across Melbourne CBD, northern Melbourne, western Melbourne and the south-east.
Check the professional’s registration and current services before making an appointment.
Frequently Asked Questions
Can I lodge my own tax return in Australia?
Yes. Eligible individuals can prepare and lodge their own returns using the ATO’s myTax service.
Is a tax accountant worth it?
It depends on the complexity of your finances. Professional assistance may be particularly useful when you have business income, rental properties, capital gains or complicated deductions.
Can I claim my accountant’s fees?
Eligible costs of managing your tax affairs, including certain registered tax agent fees, may be deductible in the year incurred.
What happens if I miss my tax return deadline?
Late lodgment can have consequences, including possible penalties. Contact the ATO or a registered tax agent promptly to understand your obligations.
Where can I find a tax accountant in Melbourne?
Melbourne Local Guide’s Accountants & Tax Advisory directory features businesses across Greater Melbourne, allowing you to explore local providers.
Find a Registered Tax Agent in Melbourne
Preparing your tax return doesn’t have to be unnecessarily complicated.
Whether you need help with a straightforward individual return or more complex business and investment matters, choosing a suitable tax professional can give you greater clarity about your obligations.
Explore the Accountants & Tax Advisory directory on Melbourne Local Guide and find tax accountants across Melbourne.
General information only. Tax deductions and deadlines depend on individual circumstances and applicable ATO rules.