When it comes to the end of the financial year (EOFY), there’s a lot of information you need to sift through and a lot to organise. What can you claim? What if you make a mistake on your tax return? And where did you file all those receipts? Natalie Lennon, tax accountant and founder and director of Two Sides Accounting, shares her expert answers to your most common tax questions so you have the information you need to feel confident at EOFY.

SEE ALSO: The ATO Answers Your EOFY Questions

A pair of hands holding a pencil and a receipt while using a calculator that’s sitting on a desk surrounded by paperwork and a laptop. 

What happens if I don’t have a receipt for a purchase I can claim on tax?

The Australian Taxation Office (ATO) allows certain claims without receipts, provided you can show you spent the money and how you calculated the amount claimed. You can claim work-related expenses up to $300, including laundry expenses up to $150. For example, if you have $150 worth of laundry expenses, you could only claim an additional $150 worth of other work-related expenses without receipts. You can claim small work-related expenses under $10 without receipts if each expense is under $10, but the total of these claims cannot exceed $200 for the income year. These are also included in the $300 work-related expenses outlined above.

What do I do if I make a mistake on my tax return?

If you make a mistake on your tax return it’s best to lodge an amendment as soon as you become aware of the mistake. You can lodge this amendment through your myGov account in the ‘Manage tax returns’ section or through a registered tax agent. Generally, you have two years from the date on your notice of assessment to lodge an amendment.

SEE ALSO: Remote Working EOFY Essentials You Could Claim on Tax

What are your tips for staying organised to make tax time easier?

I recommend keeping a spreadsheet of expenses throughout the year with the date, description of the expense and amount paid. That way, when it comes to tax time, the data is ready to go. Ensure you’ve taken photos of your receipts and saved them in the cloud as you’re required to keep them for five years.

Tax accountant Natalie Lennon standing in front of a hot pink and white backdrop, smiling and wearing a pink suit jacket and jeans with a white shirt.
Photo: Graham Jepson

When should I get expert help with my tax return?

If your tax affairs are relatively simple – for example, you have one employer and minimal deductions – you can prepare your own return using the myGov website. Make sure the pre-filled information is correct as sometimes data may be delayed, such as your employer not filing the single-touch payroll finalisation by the due date (14th July). If your tax affairs have not changed from last year, usually you can follow what the accountant had done the year before by way of tax deductions. If your circumstances have changed, speak to an accountant.

Did You Know? 2 in 5 Australians do their own tax returns, while about 40 per cent use a tax agent.* 

A person sitting at a desk holding a receipt and using a calculator with a laptop, mug, stationery and other receipts nearby.

What are your tips for maximising my tax return as an individual?

  1. Claim working from home expenses if you meet the ATO criteria to claim (refer to ato.gov.au/wfh).
  2. Keep all of your receipts.
  3. Keep a deductions summary, including questionable items to flag with your accountant.
  4. You can claim a deduction for additional superannuation contributions (the 2025 limit is $30,000 and includes employer contributions).
  5. Don’t forget that income protection insurance is tax deductible.

‍Did You Know? 43% of Australians keep a physical folder of receipts, while 22% store them on their phone or in an app.* With the Officeworks app, you can conveniently save your receipts by scanning them directly into the app.

What are your tips for maximising my tax return as a small business owner?

  1. Ensure all expenses are paid through your business account. If they are paid personally, they are likely to be forgotten by tax time.
  2. Keep a motor vehicle logbook for your business usage to claim using the logbook method, instead of cents per kilometre, which is capped at 5,000 kilometres.
  3. Pre-pay expenses such as rent, insurance or subscriptions.
  4. Write off obsolete stock so you can claim the tax deduction in the current financial year.
  5. Review outstanding invoices that are not expected to be paid. This ensures you do not pay tax on them and they are written off as bad debts.
  6. Meet with your accountant prior to 30 June to review profit and discuss tax planning strategies.

SEE ALSO: Small Business Tax Deductions to Consider in 2025

What’s the number one mistake you see people making on their tax return – and how do I avoid it?

The most common mistake I see is guessing or estimating your tax deductions without working through the information available on the ATO’s website. Also, basing your tax deductions off what your friends have told you they claim on their tax returns. While it might seem harmless, inaccurate deductions can trigger audits, penalties or missed tax savings.

The ATO uses sophisticated data-matching technology to compare the information on your tax return with data from banks, employers, government agencies and industry benchmarks. To avoid making inaccurate deductions, keep detailed records of all deductible expenses throughout the year. Use accounting software or spreadsheets to stay organised. If you’re unsure if something is deductible or not, seek clarification from your accountant instead of your mate.

What to Try

This is general information only and does not constitute taxation or legal advice. Other requirements under the tax law apply. Seek professional tax and/or legal advice.

*Officeworks’ EOFY FY24 report.

SEE ALSO: How to Lodge Your Tax Return Online