Your Tax Return: What’s New, What’s Changed & What You Should Know
As we begin a new financial year, it’s time to start thinking about your 2024–25 tax return. Whether you’re an employee, a small business owner, or an investor, understanding this year’s changes can help you lodge accurately and make the most of your entitlements.
Here’s what you need to know before you lodge:
“Good tax planning is not only about paying less.
It’s about paying right — at the right time,
in the right way, with the right mindset.”
1. Minimum Wage Has Increased — Check Your Payroll and Withholding
From 1 July 2025, the national minimum wage has increased to $948 per week or $24.95 per hour. Employers must update payroll systems and award rates. Employees may see changes in their tax position if their income increases.
2. Super Guarantee (SG) Rate Now 12%
Also effective from 1 July 2025, the Superannuation Guarantee has increased to 12%. Employers must update payroll software and ensure correct super contributions are made for all eligible employees. For employees and contractors, this means more retirement savings — but also potential changes in take-home pay depending on contract structure.
3. Wait Until Your Income Statements Are ‘Tax Ready’
The ATO strongly recommends waiting until your income statement is marked ‘Tax Ready’ in MyGov before lodging. Most employers finalise their reports by 31 July. Lodging too early may result in errors, missed income, or ATO adjustments.
4. Review Deductions — Maximise What You Can Claim
We help you uncover deductions that often go unclaimed:
- Work-related expenses (tools, subscriptions, uniforms).
- Car expenses (cents-per-km or logbook method).
- Home office costs.
- Self-education expenses (related to your job).
- Investment property costs & share-related fees.
- Super contributions, including catch-up caps if eligible.
💡 Tip: Review your bank and credit card statements from the past 12 months — many tax-deductible items go unnoticed.
Ready to start your 2025 tax return?
5. Lodge Your Return Online — Quick & Easy
We offer a fully digital, end-to-end service:
- Secure ATO data extraction
- Digital draft review & e-signature
- Prompt lodgment and email confirmation
- Assessment notice forwarded to you
- Responsive support, without jargon
6. Use Tax Time to Plan for the Year Ahead
- Adjust PAYG instalments if needed
- Set up new record-keeping systems
- Review your business or investment structure
- Plan big purchases or deductible spending wisely
- Consider contributing extra to super before year-end
Let’s make it smooth, strategic, and stress-free.