2025 Tax Time Checklists – Let’s Get You Sorted!

2025 Tax Time Checklist – Let’s Get You Sorted!

 

Another financial year has come and gone, and the OneLedger team is here to help you through your 2025 Income Tax Return.

Your employer should be finalising your Single Touch Payroll (STP) within the next few weeks. Once that’s done, we’ll be able to retrieve most of your income data directly from the ATO – no need to chase paperwork!

To help you get started, we’ve updated our online checklists and price list:

  • Individual Tax Return Checklist – Click Here
  • Rental Property Checklist – Click Here
  • Price List – Click Here

Please complete the relevant checklists, include any extra information in the notes section, attach your supporting documents, and send it all through to us when you’re ready.

And don’t forget to include your bank interest and private health insurance details.

If you have any questions, or extra files to send, just email us at tax@oneledger.com.au. Prefer to use a secure client portal folder? We’re happy to set one up for you – just let us know.

 

A quick note on investments:
If you hold investments that require end-of-financial-year tax statements, we’ll need to wait until those are issued before we can finalise your return. Some won’t be available until September or even October, depending on the investment provider.

 

Want to chat in person?
We’d love to catch up in person or over a coffee to go through your tax – whether it’s for this year, last year, or planning. Just email us at admin@oneledger.com.au to book a time.

 

Quick Refresher – New 2024/25 Tax Rates:

  • $0 – $18,200: No tax
  • $18,201 – $45,000: 16c per $1 over $18,200
  • $45,001 – $135,000: $4,288 + 30c per $1 over $45,000
  • $135,001 – $190,000: $31,288 + 35c per $1 over $135,000
  • Over $190,000: $51,638 + 45c per $1 over $190,000

These rates don’t include the Medicare levy (2%)

 

What’s New (and what to keep in mind) for 2025

 

Motor vehicle claim rate (cents/km):
The cents per kilometre method has increased to 88 cents/km for the 2024/25 financial year. This covers fuel, maintenance, insurance, depreciation and more – but keep a record of your work-related travel (up to 5,000 km per year).

If not using the cents per KM method, the logbook method is available. Should a valid logbook be kept, the enables claiming business use of all costs associated with the motor vehicle.

 

Working from Home Claims – A Quick Recap

Fixed Rate Method (70 cents/hour)
This new rate (effective 1 July 2024) covers:

  • Internet and phone usage
  • Electricity and gas
  • Office consumables, small supplies and stationery

This method allows a separate claim for other items listed under actual method (e.g. depreciation on office equipment).

To claim, you’ll need a record of hours worked and proof that you paid for the included expenses.

Actual Cost Method
This method lets you claim actual work-related costs for:

  • Internet and phone usage
  • Electricity and gas
  • Office consumables, small supplies and stationery
  • Office furniture and equipment depreciation
  • Cleaning (if using a dedicated home office)

It requires detailed records – think square meterage of your workspace, itemised utility usage, depreciation schedules, and receipts.

 

Super Contributions Reminder

Made a personal super contribution this year and want to claim it? Make sure you submit a Notice of Intent to Claim form to your super fund before you lodge your tax return.

Many funds now let you do this online. If yours doesn’t, you can grab the ATO form here and send it directly to your fund.

 

We’re here to make tax time simple and stress-free. If you have questions, need help with your return, or just want to run something by us, get in touch at tax@oneledger.com.au.

Let’s make this your easiest tax season yet.

—

The OneLedger Team