Tax time doesn’t have to be stressful! Whether you’re an individual juggling multiple income sources or a business owner managing payroll and expenses, preparing for tax season early can save you time, money, and headaches.

At Supertax, we’ve put together this simple, practical tax preparation guide to help you get organised, maximise your deductions, and file with confidence.

👨‍💼 For Individual Taxpayers

Are you unsure what documents to gather or which deductions you can claim? Our guide walks you through the essentials:

✅ Key Documents to Gather

• PAYG Payment Summaries (we can access these directly from the ATO)
• Interest Income from bank accounts
• Dividend Income and Managed Fund Statements
• Records for Investment Properties and Cryptocurrency
• Receipts for Work-Related Expenses (uniforms, tools, travel, etc.)
• Home Office or WFH records (logbooks, invoices, utility bills)

💡 Pro Tip:

Use your bank’s online portal to search for “interest summary” or create a Coinly account for crypto statements.

💸 Common Deductions

• Motor Vehicle & Travel (for work-related use)
• Tools, Equipment & Uniforms
• Home Office Costs
• Self-Education related to your current employment
• Donations to registered charities
• Childcare and disability expenses (if applicable)

💡 Read our latest blog on how to maximise WFH deductions for 2025 here.

🏢 For Business Taxpayers

Running a business? We’ve got you covered too. Efficient bookkeeping and proactive tax planning can make all the difference.

📋 Essential Business Tax Tasks

• Finalise bookkeeping by 30 June (Xero, MYOB, or QuickBooks recommended)
• Ensure timely payment of employee super to claim this year’s deductions
• Prepare your final BAS for the June quarter
• Finalise STP reports and ensure payroll compliance

📁 What to Organise

• Profit & Loss Statements, Balance Sheets, Cash Flow Reports
• Bank and Credit Card Statements
• Asset Registers and Depreciation Schedules
• Payroll Reports and Super Payments
• Records of Operating & Capital Expenses
• Home Office and R&D Expenses (if eligible)

💡 Don’t forget to set aside GST, PAYG, and income tax in separate accounts for better cash flow control.

📞 Need Help?

At Supertax, we offer expert tax return lodgement services — in person or remotely — and full bookkeeping support tailored to your needs. Let us handle the paperwork while you focus on what you do best.

📍 Suite 1, 7 Bridge St, Werribee VIC 3030
📞 (03) 7074 8818
🌐 www.mysupertax.com.au

📄 For More Information

For a comprehensive breakdown of all individual and business tax preparation steps — including detailed checklists and ATO links — please read the attached document:

📎 “Supertax – Tax preparation guide” – your complete tax season companion.

💬 FAQs

Can I claim travel to work?
Generally no, but you can claim travel between worksites or transporting tools.

Are uniforms deductible?
Only if they are specific to your role and not general clothing.

What about self-education?
Courses directly related to your current job and improving your skills may be deductible.

For more detailed information, visit the ATO deductions guide.