✅ Income to Declare: All types of income that must be reported on your FY2024-25 return – from salary and bank interest to dividends, crypto gains, rental income, and business profits.

✅ Deductions You Can Claim: Comprehensive coverage of work-related expenses (by category and profession), investment property deductions, self-education, donations, and more – including home office expenses under the updated rules for 2025.

✅ Updates from Federal Budget: Key tax changes effective this year (like the new tax rates from 1 July 2024) and upcoming changes that might impact your planning.

✅ Business Income Guidance: Tips for sole traders and small businesses – what income and expenses to report (with some industry-specific examples), the $20,000 instant asset write-off rule , depreciation, and record-keeping.

✅ Checklist – What to Bring: A handy list of documents and information to gather before your tax appointment (income statements, receipts, logbooks, etc.), so we can prepare your return accurately and maximize your refund.

Using this guide: We’ve structured the information with clear headings and bullet points for easy scanning. Throughout the guide, look out for examples and ATO references that illustrate key points – these real-world scenarios and official guidelines will help deepen your understanding. Let’s get started on making your 2025 tax return preparation as smooth as possible!