Tax return checklist for 2025⁠–⁠26: what to gather first

If you're getting ready to lodge your 2025⁠–⁠26 tax return, this tax return checklist sets out what to gather first, whether you lodge through myTax or hand everything to a tax agent. It covers income, deductions, health cover, study loans, super and investments, plus the dates that matter this year.

First, check the timing

The 2025⁠–⁠26 income year ran from 1 July 2025 to 30 June 2026. Before you lodge, two questions are worth asking.

Is your pre-fill complete? The ATO starts pre-filling returns from 1 July, and most information from employers, banks, government agencies and health funds is in by late July. Your income statement in myGov shows as "tax ready" once your employer has finalised it. By now most pre-fill data has arrived, but some items, such as trust and partnership distributions and some managed fund information, can come later.

Is your pre-fill right? Pre-filled data is a starting point, not the final word. You're responsible for what's in your return, so compare it with your own statements and add anything that's missing. If you've already lodged and a late statement turns up, your return can be amended.

Key dates for 2025⁠–⁠26 returns

This year 31 October falls on a Saturday. The ATO's general rule is that when a lodgment date falls on a weekend, you can lodge on the next business day. However, the ATO has told agents that new clients must still be added to their client list by 31 October itself. So if you want the extra time that comes with a tax agent, contact one before 31 October. If you've fallen behind on earlier years, there's help with late and overdue tax returns.

Income records

Employment and government payments

• Your income statement from myGov for every employer you had during the year, including any lump sums, allowances or termination payments.
• Details of any employer that doesn't report through myGov, such as an overseas employer.
• Government payments such as JobSeeker, Parental Leave Pay or Carer Payment. These usually pre-fill, but check the amounts.

Interest, dividends and managed funds

• Interest from every bank account, including joint accounts, where you generally declare your share.
• Dividend statements showing franked and unfranked amounts and franking credits.
• Annual tax statements from managed funds, ETFs and trusts. Use the tax statement rather than the distribution notices, as the tax components are often different. From 2026 the ATO is also starting to pre-fill trust distributions for individuals, but keep the trustee's statement.

Foreign and other income

• Foreign income. Australian residents generally declare worldwide income, including overseas employment income, pensions, interest, dividends and rent, converted to Australian dollars, along with any foreign tax paid.
• Side income. Sole trader, contracting, ride-share or other online platform income. Many platforms now report their sellers' transactions to the ATO.
• Capital gains from selling shares, crypto or property (see below).

Deduction records

• Work-related expenses: receipts and invoices for things like tools, uniforms, union fees and self-education. If you work from home, our guide to work from home deductions covers the methods and the hours record you need.
• Car expenses: if you use the cents per kilometre method (88 cents per km for 2025⁠–⁠26, up to 5,000 km), you need to show how you worked out your work kilometres. The logbook method needs a valid logbook and records of running costs.
• Gifts and donations: receipts for gifts to deductible gift recipients (DGRs).
• Income protection insurance: premiums for policies held outside super.
• Cost of managing your tax affairs: last year's tax agent fee, for example.

Keep a note of anything your employer reimbursed, as reimbursed costs generally can't be claimed.

How much evidence do you need?

For 2025⁠–⁠26, if your total work-related expenses are $300 or less, you need records showing how you worked out your claims, such as calendar entries or a spreadsheet, but not necessarily receipts. If the total is more than $300, you need written evidence for the whole amount, not just the part above $300. Car, meal allowance, award transport payment and travel allowance expenses have their own rules.

Keep your records for five years from the date you lodge. Clear photos or digital copies of receipts are acceptable.

Health cover, study loans and super

Private health insurance

Health insurers aren't required to send a private health insurance statement, although you can ask for one. For most people the policy details pre-fill. They matter because private hospital cover affects the Medicare levy surcharge. For 2025⁠–⁠26, the surcharge generally doesn't apply if your income for surcharge purposes is $101,000 or less (singles) or $202,000 or less (families, plus $1,500 for each dependent child after the first). Have your spouse's income handy, as family thresholds depend on it.

HELP and other study loans

Compulsory repayments changed for 2025⁠–⁠26. The minimum repayment income is $67,000, and for most people repayments are now calculated only on income above that threshold, rather than as a percentage of their whole income.

Example: with repayment income of $80,000 in 2025⁠–⁠26, the compulsory repayment is 15% of the $13,000 above the threshold, or $1,950. Under the old system it would have been $2,800.

The ATO has also finished applying the one-off 20% reduction to study loan debts that existed on 1 June 2025, so check your balance in myGov.

Personal super contributions

If you made personal after-tax contributions to super and want to claim a deduction, you must give your fund a valid notice of intent before you lodge (and no later than 30 June 2027), and receive its acknowledgment. Without that acknowledgment you can't claim the deduction. Deductible contributions count towards your concessional contributions cap, which is $30,000 for 2025⁠–⁠26 unless you can carry forward unused amounts from earlier years.

Rental property, shares and crypto

Rental property. Your property manager's annual statement, loan interest statements, invoices for repairs and maintenance, council and water rates, land tax, insurance, strata levies, a depreciation schedule if you have one, and booking platform reports if you rent short term. If the property is also a holiday home, keep a record of the days you, family or friends used it and when it was available to rent. Our guide to rental property tax deductions explains what's claimable.

Shares and ETFs you sold. Buy and sell contract notes showing dates, amounts and brokerage, so any capital gain or loss can be worked out, plus details of capital losses carried forward from earlier years.

Crypto. Export your full transaction history from every exchange and wallet. Most disposals, including swapping one crypto asset for another, are a CGT event, and you need the Australian dollar value at the time of each transaction.

Tax return checklist: what to bring to your tax agent

If someone else is preparing your return, a complete first bundle saves time and follow-up questions. Bring or send:

• your tax file number and ID (if you're a new client)
• the bank account details for any refund
• last year's notice of assessment, if you have it
• your spouse's details and an estimate of their taxable income, plus details of any dependants
• the income, deduction, health cover, study loan and super records above
• rental, investment and crypto records, including any capital losses carried forward
• any letters you received from the ATO during the year
• questions about the year ahead, such as a planned property purchase or a change in work.

If you're not sure whether something is relevant, include it anyway. It's quicker for your agent to set aside a document than to chase one later.

Planning ahead for 2026⁠–⁠27

A few changes from 1 July 2026 are worth knowing now, even though they don't affect your 2025⁠–⁠26 return:

• The 16% personal tax rate falls to 15% from 1 July 2026.
• Eligible workers can claim a new standard deduction of up to $1,000 for work-related expenses from 2026⁠–⁠27, with no receipts required.
• If you claim more work-related expenses than your standard deduction, you'll need written evidence for all of them, as the $300 exception no longer applies from 2026⁠–⁠27.

What this means for you: keep recording your work hours and receipts from 1 July 2026, so you can choose the better option at tax time rather than being limited by missing records.

How Jan can help

Jan can take your records, check them against the ATO's pre-fill and prepare your 2025⁠–⁠26 return, then walk you through it before lodging. If you'd like the extra time that comes with a registered agent, get in touch before 31 October 2026 so he can add you to his client list. Book a free intro call, or read more about individual tax returns.