The biggest mistake Australians are likely to make at tax time
Share this @internewscast.com
Rushing to complete your tax returns quickly at the end of the financial year might seem like a responsible move – but it can actually be detrimental.

According to CPA Australia, the largest accounting organization in the nation, filing returns too early is one of the most significant and frequent errors made by taxpayers.

For instance, ATO statistics from last year indicate that around three million individuals had submitted their tax returns by July 23, which increased to 5.8 million by August 20.

People are urged to take their time with their taxes this year. (Getty)

However, Jenny Wong, the tax lead at CPA Australia, advised taxpayers to spend time collecting evidence of their work-related expenses in the upcoming weeks and to wait for the ATO to pre-fill their data before submitting their returns.

“Cost-of-living pressures could mean some people are eager to lodge their tax return as quickly as possible to access a refund, but it’s important to be patient, gather your evidence and claim everything you are entitled to,” she said.

“Firing the starting pistol on your tax return too quickly means you could end up shooting yourself in the foot.”

There are many avenues for people to make proper claims. (Getty)

Wong said it was common for people who lodged early returns to end up having to amend them later.

She also advised people to avoid another common mistake, and not simply copy their previous year’s claims.

“Some people go into autopilot when they do their tax returns,” she said.

“They cut and paste from their last return and fail to consider any changes to their personal circumstances.

The amount of physical cash circulating in Australia is at a near-record high.
A poorly-thought-out tax return can result in less money in your pocket. (iStock)

“Turn off the autopilot and take time to seriously consider what’s different about your expenses this year and think about what you could claim.”

She suggested extra work travel and equipment for new jobs as potential examples.

“The ATO has a comprehensive guide to industry and occupation types,” Wong said.

“We strongly advise against using AI advice when preparing your tax return.”

CPA Australia also encouraged taxpayers to consider seeking professional advice with their returns, especially if they had complex finances and earning activities such as owning rental properties and crypto assets.

This cost is itself tax deductible.

But make sure if you do claim something, you have the evidence for it, whether working from home or not – and don’t exaggerate.

Australia's fastest growing, well-paid jobs in 2025

Australia’s fastest growing jobs with competitive salaries

“Getting your tax return right is your responsibility,” Wong said.

“This means declaring all of your income and claiming the appropriate expenses.

“Failure to properly declare your income increases your chances of being audited by the ATO. Failing to claim everything you’re entitled to means less cash back than you could otherwise get.”

CPA Australia’s top tax tips

  1. Out of pocket? Any out-of-pocket work-related expenses could be tax deductible, but you’ll need evidence in case you are asked in an audit. Think about what you’ve had to purchase for work. Check your bank statements.
  2. Find the evidence. Hopefully your receipts aren’t down the back of the couch, but they might be in your emails and phone apps. Or maybe the junk draw?
  3. Consider your working from home expenses. You may be able to claim expenses such as internet costs and printing ink and paper, so long as they can be legitimately attributed to work use.
  4. Methods matter. Which work-from-home expense type makes most sense for you (fixed rate or actual cost method)? If you’ve been good at keeping records throughout the year, the actual cost method may be more beneficial.
  5. Using your car for work? For vehicle expenses, you must be able to identify and justify the percentage that you are claiming as business use. To claim accurately, you will need to use a logbook or diary to show private versus business travel.
  6. Consider buying your essentials now. You still have until June 30 to purchase any essential work items and claim the deduction this tax time.
Share this @internewscast.com
You May Also Like
Flaming chunk of suspected space junk crash lands on WA mine site

Unmasking the Cosmic Intruder: Space Debris Crashes into Western Australia Mine

At around 2 pm local time (5 pm AEDT) yesterday, workers at…
Australian nutritionist and food influencer Stacey Hatfield has died from an extremely rare complication during childbirth, her heartbroken husband Nathan Warnecke said.

Tragic Loss: Beloved Australian Food Influencer Dies from Rare Childbirth Complication

Australia mourns the loss of beloved nutritionist and food influencer Stacey Hatfield,…
Israel has received a coffin carrying the body of a deceased hostage, the prime minister's office said in a statement late Friday. In this October 14 photo, people celebrated in Tel Aviv's Hostages Square after the announcement that bodies of four Israeli hostages would be released.

Israel Confirms Identification of 75-Year-Old Man as Tenth Hostage

The body of a tenth deceased hostage returned to Israel from Gaza…
Stock image of Australian money - $100, $50 and $20 notes

Millions of Australians Acknowledge Financial Habits That Could Impact Their Retirement Savings

A recent survey has highlighted a startling revelation: approximately 6.2 million Australians…
Barnaby Joyce keeping Nationals in the dark about potential One Nation defection

Barnaby Joyce Sparks Speculation with Possible One Nation Defection, Leaving Nationals in Uncertainty

Barnaby Joyce has sparked fresh speculation about his political future by not…

Barnaby Joyce Discusses National Party Rift with Pauline Hanson

Nationals MP Barnaby Joyce appears to have rejected his leader’s overtures to…

Mitchell Marsh’s Candid Response on Test Cricket Comeback for Ashes: ‘I’ll Be Six Beers In

Following his exclusion from Australia’s Test cricket lineup during the Border-Gavaskar Series…
World's biggest websites, apps down as Amazon Web Services reports major issues

Global Internet Disruption: Major Websites and Apps Crippled by Amazon Web Services Outage

Some of the globe’s most popular apps and websites have ceased functioning…
Torrensville firebombing

Shocking Violence: Two Workers Burned in Suspected Tobacco Industry Conflict Escalation

Adelaide is witnessing a troubling surge in arson incidents targeting local businesses,…

Senator Price Faces Court Battle Over Alleged Defamation of NT Land Council Leader

Outspoken Liberal Senator Jacinta Nampijinpa Price is being sued by the head…
Locals dig graves for people killed in a cross-border airstrike by the Pakistani army in Afghanistan's eastern Paktika province, Saturday, Oct. 18, 2025. (AP Photo/Shafiqullah Mashaal)

Ceasefire Announced: Afghanistan and Pakistan Reach Peace Agreement with Qatar’s Mediation

Qatar’s Foreign Ministry announced on Sunday that Afghanistan and Pakistan have reached…
Coles Woolworths

New Legislation Targets Supermarket Price Gouging: Government Takes Action to Protect Consumers

The Federal Government is set to unveil new legislation aimed at curbing…