Streamline Your Finances for a Better Future

You can lodge your tax return for the 2024–25 financial year from 1 July 2025. If you're lodging your own return, the deadline is 31 October 2025. Using a registered tax agent may extend your deadline, provided you engage them before 31 October.  

 At ThynkBok, we suggest having your income statements, bank and dividend statements, work-related expense receipts, private health insurance info, and details of any other income like rental or business. Being prepared helps make your tax return faster and more accurate.

If everything’s lodged correctly, most refunds from the ATO are processed within 2 weeks. But mistakes or missing info can delay it. That’s why our clients use ThynkBok—we make sure it’s done right the first time. 

It usually comes down to how much tax was withheld, your income, what deductions you’ve claimed, adjustments to tax offsets or credits, and outstanding debts with the ATO​. Reviewing your PAYG withholding and deductions can provide insights. 

To claim a tax refund, you must lodge your tax return. The ATO processes refunds after assessing your return. 

There's no official way to expedite this process, but lodging early and ensuring your return is accurate can help.  

The government has announced tax cuts effective from 1 July 2026, reducing the 16% rate to 15%, and further to 14% from 1 July 2027. These cuts aim to provide cost-of-living relief.  

Yes. If you have tax liabilities, you're required to lodge a return to report your income and pay any owed tax. 

For the 2023–24 income year, an individual earning $80,000 would pay approximately $17,547 in tax, excluding the Medicare levy. Use the simple tax calculator for precise figures.  

The average tax refund varies yearly. For the 2021–22 income year, the average net tax was approximately $22,616.  

The tax-free threshold is $18,200. The Low-Income Tax Offset (LITO) provides up to $700 for incomes up to $37,500, phasing out at $45,000.  

Some of the ways are maximizing allowable deductions, salary sacrificing into superannuation, claiming eligible tax offsets, and keeping accurate records of expenses​.  At ThynkBok, we provide personalized consultation to help our customers make informed decisions .

 Key steps include registering for an Australian Business Number (ABN), choosing the appropriate business structure, registering for GST if turnover exceeds $75,000, and keeping accurate financial records.

Yes. Salary sacrificing reduces your taxable income, potentially lowering your tax liability. Contributions are taxed at 15%, which may be lower than your marginal tax rate.  

 At ThynkBok, we ensure that only one employer applies the tax-free threshold. For additional jobs, we help set up higher tax withholding rates to cover your overall tax liability.

Australian residents have a tax-free threshold of $18,200 and are taxed at progressive rates. Non-residents are taxed from the first dollar at higher rates and aren't eligible for the tax-free threshold.  

Yes, you can lodge tax returns for previous years. It's important to do so as soon as possible to avoid penalties. 

At ThynkBok, we help you understand how multiple jobs affect your tax. According to the ATO, having a second job doesn't mean a higher tax rate automatically, but because the tax-free threshold (the first $18,200 of your income) can only be claimed from one employer, your second job will withhold tax at a higher rate.

This is to ensure you don't end up with a tax debt at the end of the financial year. We guide you through setting up the correct withholding to keep your tax affairs in order.