As the financial year wraps up on 30 June, Australian taxpayers are already eyeing that sweet refund. But rushing your EOFY tax return is as risky as diving into Bondi without checking for sharks. With smart moves and legit deductions, you can maximise your payout. Whether you’re lodging yourself or working with tax accountants Melbourne like us here at MaxMargin Accountants, use these seven strategies to keep more cash in your pocket.
1. Know the New 2024–25 Tax Brackets
Understanding the updated income tax rates helps avoid paying more than necessary. According to ATO updates via ITP Australia, the 2024–25 thresholds are:
| Taxable Income | Tax Rate |
| $0 – $18,200 | Nil |
| $18,201 – $45,000 | 16c per dollar |
| $45,001 – $135,000 | $4,288 + 30c per dollar over $45k |
| $135,001 – $190,000 | $31,288 + 37c over $135k |
| Over $190,000 | $51,638 + 45c over $190k |
Knowing where you sit can help you determine your marginal rate—and ensure you’re making smart decisions before 30 June.
2. Prepay Deductible Work Expenses
You can claim deductions now on work-related subscriptions, income protection insurance, and tools—so long as they’re for income-producing purposes and cover no more than 12 months. For example, buy that ergonomic office chair or trade-related tools before 30 June—and claim them at full cost (if under $20,000).
3. Maximise Your Super Contributions
Concessional contributions (like salary sacrifice) are deductible up to $30,000—and you must get them into your fund by 30 June. If you earned less than $58,445, you might also be eligible for a government co-contribution of up to $500. And if you haven’t used your concessional cap in previous years and your total super balance is under $500,000, you could carry forward unused amounts.
4. Work‑From‑Home Deductions Simplified
With more Australians working from home, both the fixed rate (70 cents per hour) and actual-cost methods are valid. Keep a timesheet or diary. The fixed-rate method offers simplicity, while the actual method requires receipts—but could yield a bigger refund.
5. Claim Car and Travel Expenses Legally
Self-employed or using your car for work? Choose between:
- cents‑per‑kilometre method: claim up to 5,000 km at 88c/k
- logbook method: detailed record-keeping for higher claims
Just remember travel between home and your regular workplace doesn’t count.
6. Claim Donations—and Know the Rules
Your EOFY generosity could pay back: donations of $2 or more to Deductible Gift Recipient charities mean tax deductions. Just keep your receipts safe!
7. Organise Records, Not Just Hopes
Around 35% of Aussies lose out because they forget deductible expenses or skip records altogether. Use an app, spreadsheet or even shoebox method—just keep everything in one place. Regularly reviewing your tax position throughout the year ensures nothing slips through the cracks.
Chart: Timing & Strategy Guide
| Strategy | Action Before 30 June | Purpose |
| Prepay expenses | Subscriptions, tools, insurance | Immediate deduction |
| Super contributions | Ensure fund receipt by 30 June | Lower taxable income and boost super |
| WFH deductions recording | Keep timesheets and receipts | Maximise refund with actual use |
| Car expenses method | Choose logbook or fixed rate | Legit deduction without ATO issues |
| Charitable donations | Donate and keep receipts | Reduce taxable income legally |
| Record organisation | Compile everything in one folder | Avoid missed claims and audits |
Why This Matters in Melbourne
Melburnians juggle city commutes, side hustle and rising living costs. Finder says 1 in 3 Aussies are looking forward to their tax refund as a financial lifeline. Getting it right can support family bills, or those weekend escapes to the Dandenong Ranges.
Ready to Maximise Your Return?
EOFY is the perfect storm of opportunity—and if you get it right, your refund can give your budget a serious boost. But steaminess and rushed claims can land you in hot water.
At MaxMargin Accountants, we’re experts in EOFY Tax Return 2025 strategy and tax accountants in Melbourne. We offer tailored support to ensure you claim everything you’re entitled to—without risking red tape. We help you prepare smart, track super or travel, and keep records tidy.
Let’s sit down before EOFY, make sense of your situation, and make your best refund this year. Your future self (and your bank account) will thank you.
