How To Lodge Your Tax Return For Free With MyTax in 2025 | Step By Step Guide (Australia Tax Return)

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  • Опубликовано: 17 янв 2025

Комментарии • 137

  • @BryanInvest
    @BryanInvest  Год назад +19

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  • @One-OH-1
    @One-OH-1 8 месяцев назад +6

    OMG,
    This is the way I want somebody to explain tax filing
    Appreciate it....!
    u made it too easy to understand....ty

    • @BryanInvest
      @BryanInvest  8 месяцев назад +1

      Thank you! Glad you found the video helpful 😊

    • @One-OH-1
      @One-OH-1 6 месяцев назад

      @@BryanInvest Hi Bryan,
      For the individual whose income from the employment is less than $18000 for the fiscal year, do they get all the tax withheld refunded back after filing?
      Thank You

    • @Sk00716
      @Sk00716 3 месяца назад

      they probably should ​@@One-OH-1
      btw did u get it ?

  • @sebastianparra1554
    @sebastianparra1554 9 месяцев назад +4

    Hi Bryan! Please make a video explaining how to lodge taxes for sole traders. Thanks!

  • @lovelynaunk
    @lovelynaunk Год назад +1

    Very informative as always!

  • @nomis5426
    @nomis5426 6 месяцев назад +1

    What a great tutorial, so clear and concise. Thank you

  • @kyliebarnard5830
    @kyliebarnard5830 7 месяцев назад +1

    I have just watched the video above and I enjoyed it I will definitely use it if I need to. 😊

  • @kanojdebbarma6936
    @kanojdebbarma6936 7 месяцев назад +1

    Very informative!

  • @rigzindorji1314
    @rigzindorji1314 4 месяца назад +1

    A great tutorial and please make a video on tax return for business. 😊😊😊

  • @anoopvarghesezachariah6019
    @anoopvarghesezachariah6019 8 месяцев назад +1

    Super explained

  • @boiysah8455
    @boiysah8455 7 месяцев назад +1

    great tutorial

  • @TheCazz10
    @TheCazz10 Год назад +1

    Thanks very much Bryan. The ATO says online the Medicare Levy is usually withheld by your employer, but that doesn't seem to hold true. In your examples the person has to pay the 2% and it's deducted in the calculations as a lump sum to be paid at tax time. I am completing my return now, and I have to cough up the 2% ML plus shortfall tax for interest on savings accounts.

    • @BryanInvest
      @BryanInvest  Год назад

      You're welcome. Yeah, I wish our tax system was a bit more clearer on what is withheld and what will be charged later etc. However, at the end of the day the ATO is very good at their job, and usually you won't pay any more or any less than what you should :)

  • @ronnysharma5083
    @ronnysharma5083 11 месяцев назад +1

    I really really really want you to make a video on business tax return. Please. I request you please.

  • @bineez9300
    @bineez9300 9 дней назад

    Plz make a video for ABN as well for uber eats

  • @moneymoneymoney_534
    @moneymoneymoney_534 Месяц назад

    ADo you have a video for the you had foreign income section?

  • @januzportz7367
    @januzportz7367 6 месяцев назад +1

    I WANT MY REFUND BROTHER.... Thanks a lot for the info.

  • @AussieFurnitureCare
    @AussieFurnitureCare Год назад +3

    would be good if you had sole trader clip

    • @BryanInvest
      @BryanInvest  Год назад +1

      Hmm...I'll work on one for a future video. Cheers.

  • @TntosionOfficial
    @TntosionOfficial 9 месяцев назад +1

    brilliant

  • @KUPHSER
    @KUPHSER 6 месяцев назад +1

    Would be good if you went through the private health part

  • @hauntang7605
    @hauntang7605 3 месяца назад

    Which category do I claim work tools in??

  • @limecat7996
    @limecat7996 5 месяцев назад

    your a life saver ;-; i been a resident all my life and still dont get it xD and last year i went to this community place that does free tax returns for people that cant lodge there own, and well.. it was a horrible experiance. i walked it to the room and it was a accounting class! and i was pretty much a project so the teacher could show his students what to do, was slightly traumatising since i wasnt expecting that and am a little introverted.

  • @Benjamin-ib4to
    @Benjamin-ib4to Год назад +2

    We need a sole trader clip… pretty please 🙏

    • @BryanInvest
      @BryanInvest  Год назад +2

      I'll put it on the list! Cheers 👊

    • @jorgevargas2759
      @jorgevargas2759 6 месяцев назад

      I would also appreciate it 🙏🏻
      Great videos mate… now following!

  • @boonchanidsrichobtham5551
    @boonchanidsrichobtham5551 Год назад +1

    REFUND and very useful video as always.

  • @JASHANDEEPKAUR-cj2nj
    @JASHANDEEPKAUR-cj2nj 8 месяцев назад

    Hey mate, thanks for this useful video! I actually have one question, could you please clarify that when is the due date to lodge tax return for a particular financial year?

  • @generaltube8639
    @generaltube8639 8 месяцев назад

    which one do we have to select in personalize return if we have only earned on ABN, not TFN?

  • @MLDawn
    @MLDawn 10 месяцев назад +1

    Great video. I have a question to which I have not been able to find the answer anywhere. I am an Australian Permenant Resident but my employment is with Ireland, and my salary will be paid in my Irish bank account and I will be taxed according to Irish tax protocols. What should I do exactly regarding my tazes in Australia? Will I be double taxed by Australia? Any information/resource would be greatly appreciated.

    • @BryanInvest
      @BryanInvest  10 месяцев назад

      Hi, I believe Australia and Ireland have a tax treaty to avoid double tax situation. So you won't be paying double tax. However, I can't give you financial advice on your tax return since I don't know your situation. In this case, I would strongly suggest you pay for a registered tax accountant to do your tax return so at least you get it right this year. Then you can choose to do it yourself next year after knowing how they did it.
      www.ato.gov.au/forms-and-instructions/foreign-income-tax-offset-rules-guide-2023/attachment-a-countries-and-other-jurisdictions-that-have-a-tax-treaty-with-australia

  • @sunilgarbuja
    @sunilgarbuja 5 месяцев назад

    Yes, could you please do a video for sole traders, and how to go about lodging what they call 'Income tax with business schedule'. Thanks.

  • @johntyson5295
    @johntyson5295 Год назад +1

    Great guide. Hoping to get a big REFUND this year!

  • @svetaccord
    @svetaccord 8 месяцев назад +1

    bryan, this is gold! i have always felt intimidated by govt forms! thankyou so very much for demystifying this process ~ so much appreciation ))) refund$

    • @BryanInvest
      @BryanInvest  8 месяцев назад

      Great to hear mate! I agree with you. I find Australian Govt forms can be over complicated with an unnecessary amount of big words and jargons. It could certainly be simpler 😅

  • @brendalovesfood4633
    @brendalovesfood4633 Год назад +1

    Hi nice video, can u please make a video for share trading too. Thanks

    • @BryanInvest
      @BryanInvest  Год назад

      Thanks. Do you mean investing in shares? Check out my popular videos, there are many videos on that subject 😊

  • @WuraTimi
    @WuraTimi 6 месяцев назад

    Can i get my previous year tax refund

  • @naeemch4127
    @naeemch4127 6 месяцев назад +1

    Hi Bryan can U make video on sole trader or how uber or taxi drivers do their own tax return via my Gov thanks.

    • @BryanInvest
      @BryanInvest  6 месяцев назад

      I'll put it on the list! Thanks

  • @jhedanesguerra
    @jhedanesguerra 9 месяцев назад +1

    Hi there! Do I need to enter the tax they withheld on my bank interest even though I provided my TFN? They withheld something before I provided my TFN. Just wanting to be clear on this.

    • @BryanInvest
      @BryanInvest  9 месяцев назад +1

      Yes, you do. However, sometimes MyTax will automatically pre-fill this part for you. If it’s not there, you need to enter it manually.

  • @nathanlymbery9840
    @nathanlymbery9840 6 месяцев назад

    Step by step guide for tax return when owning investment property please !

  • @guiiramos26
    @guiiramos26 2 месяца назад

    Hey mate, how are u? Could you help how can I do the Direct debit in Mygov?

  • @Batman-py2dy
    @Batman-py2dy 10 месяцев назад +1

    Thanks for the useful video. Do you know how to lodge a tax return of a family trust online?

    • @BryanInvest
      @BryanInvest  10 месяцев назад

      I would probably go see a tax accountant for this, at least for the first time. They know a lot of loopholes and tricks to legally lower your tax.

  • @MdSaifuddin-r1b
    @MdSaifuddin-r1b 6 месяцев назад +1

    Hi Brayn, This is the first time I am paying tax in Australia. I have myGov and myGov ID. My muGovID strength is basic. Due to lack of documents, I can not go further to Standard. And with basic strength I cannot connect my myGov to myGovID.
    So in this case how do I link ATO to myGov? I am kinda lost! You have any idea what can I do now?

    • @BryanInvest
      @BryanInvest  6 месяцев назад +1

      Surely you have a foreign passport and visa? That should be enough to have a standard identity. If not, it's probably best to contact them. Anything else I say would just be speculation.
      www.mygovid.gov.au/help-contact-us

  • @jackwalker1586
    @jackwalker1586 5 месяцев назад +7

    I keep trying to do the "My Tax" but it keeps telling me it does not match the ATO records on file, How am i supposed to get around this??? Im on a working holiday visa and this would be my first tax back.

    • @BryanInvest
      @BryanInvest  5 месяцев назад

      I suggest you call the ATO directly. I don't think this is something I can help with, sorry.

    • @mehak.kaushik11
      @mehak.kaushik11 Месяц назад

      Try not to put spaces in between you TFN numerals.

  • @mooreover12
    @mooreover12 Год назад +1

    Refund. Thanks Bryan. Will come in handy when I do my tax return on the latest day possible 😂

  • @AyTee77
    @AyTee77 10 месяцев назад +1

    Can I use this as a non-resident (ie. I live overseas) with income from Australian assets?

    • @BryanInvest
      @BryanInvest  10 месяцев назад

      Are you an Aussie resident living overseas? If so, then you should be able to. If not, then best to check with an accountant in your resident country.

  • @virgiliosilva2208
    @virgiliosilva2208 2 месяца назад

    Hi Brother as a seasonal Worker in Australia, may I claim my tax return? Thanks..

  • @yogendrashrestha1846
    @yogendrashrestha1846 6 месяцев назад

    This is my first time to lodge a TAX. will you please guide me? how to deduct my expenses and how to add them.

  • @pr4nk5tr
    @pr4nk5tr Год назад

    So do I have to declare each individual dividend payment for each company, rather than adding them all up?

  • @dhruvkumar20
    @dhruvkumar20 6 месяцев назад

    What about the temporary residents (TR) who do not have medicare. For medicare levy exemption is should be 'yes' . Is it correct?

  • @JASHANDEEPKAUR-cj2nj
    @JASHANDEEPKAUR-cj2nj 8 месяцев назад +1

    Hey mate, thanks a lot for this useful video! I actually have a question, could you please clarify that when is the due date to lodge for tax return, i'm an international student and came to Australia last year in July and started working in August. So, when can i lodge for tax return? Thank you!

    • @BryanInvest
      @BryanInvest  8 месяцев назад

      Tax return is due on 31st October if you’re completing it yourself. If you use a tax agent, you up have until 15th May the following year.
      You can technically start your tax return on 1st of July. However, I would wait a few weeks just to ensure all your payroll data and other information are pre filled for you on MyTax.

  • @yc1195
    @yc1195 2 месяца назад

    Thanks for this video. If I'm on a work visa and still have no work for the year, am I required to lodge a tax return? Sorry for the noob question. Cheers! 🍻

  • @chrissyoz2496
    @chrissyoz2496 Год назад +1

    Hi, I have a spouse, what else should I put aside from taxable income and superannuation on the Spouse details section? Thank you. Your video is quite helpful

    • @BryanInvest
      @BryanInvest  Год назад

      Thanks Chrissy. You probably need to include their half of any dividends, interest, or any other investments that you guys share. They should ask you all these stuff on MyTax anyway so just answer all the questions honestly and you should be fine.

    • @chrissyoz2496
      @chrissyoz2496 Год назад +1

      Thank you for answering my question. He has investment property but only under his name. So I think I should only put his total income. Idk why am only getting $600 out of 5k tax 💔

    • @BryanInvest
      @BryanInvest  Год назад

      @@chrissyoz2496 The ATO is usually fair. They'll refund you if you paid too much during the year and will charge you if you paid too little. Of course, it's still hurts when we see our money taken away from us.

    • @chrissyoz2496
      @chrissyoz2496 Год назад

      @@BryanInvest thank you for your reply. Appreciate you helping people like me who wanna save money and will do things if we can by ourselves.

  • @iamjacksonmolloy1
    @iamjacksonmolloy1 Год назад +1

    Hey mate can you do a video on super and SMSF?

    • @BryanInvest
      @BryanInvest  Год назад

      Sure, I'll put it on my list. Cheers!

  • @joelworsley3591
    @joelworsley3591 Год назад +1

    Hi Bryan, congrats on 10K subs! I have been thinking about salary sacrificing however this would cut into my "out of super" investing, would you recommend a balance? Or stick to one or the other entirely. REFUND

    • @BryanInvest
      @BryanInvest  Год назад +3

      Thanks a lot Joel! I know you've been here since the early days so appreciate your support. IMO, salary sacrifice comes down to one thing - are you happy to keep working until 60? If yes, then salary sacrifice makes a lot of sense financially. You will save a ton of money on taxes. The only downside is you are locking in your money until preservation (retirement) age. You could try a balance to cover yourself both ways.

  • @aarontong7948
    @aarontong7948 Год назад +1

    When do we have to do it by on MyTax? (REFUND)

    • @BryanInvest
      @BryanInvest  Год назад

      31 Oct if you're doing it yourself on MyTax.

  • @matanderson
    @matanderson 6 месяцев назад

    Refund..... This is an epic video.. thanks mate. Can I claim last fy tax agent fees? And What about personal super contributions where do I put them?

  • @x_.saz._x3714
    @x_.saz._x3714 2 месяца назад

    When you talk about Vanguards Annual Tax statements to lodge tax return, does that mean you have to use Vanguard as a broker to invest in ETFs? What if we want to use a different broker like WeBull? How would we get this statement?

  • @Nickgurung900
    @Nickgurung900 4 месяца назад

    I keep trying to connect mygov id and my gov but it saying acc not secure enough to connect 😢...i got no au license

  • @neonet6064
    @neonet6064 10 месяцев назад +1

    So when is the perfect time to lodge tax return?
    Sorry new over here

    • @BryanInvest
      @BryanInvest  10 месяцев назад

      There's not really a 'perfect' time. You have until October 31st to do it. I would just suggest waiting a few weeks into July to do it to ensure everything is in MyTax.

  • @praneelsahai3163
    @praneelsahai3163 Год назад

    Hey Mate.. i am full time employed and do uber for extra income, do you have a video that can educate me on how to lodge my tax ? Thanks

  • @Patricia-jt6ku
    @Patricia-jt6ku 6 месяцев назад

    Hi I’m a whv holder and wanted to claim tax return but I don’t know why it says I’m owning hundreds dollars to ATO and also I put my deduction but isn’t cut from my income, I’ve tried with your number 1 case to check about my tax return. Can you explain what happen or maybe I did it wrong? Thanks before

  • @TripalYT
    @TripalYT 2 месяца назад +1

    Guide for partnerships next year please, would earn an instant sub and like from me that's for sure

  • @BoogsieClarke
    @BoogsieClarke 6 месяцев назад

    I acquired a laptop necessary for work purposes. Could you please advise on the process for claiming this expense via MYGOV? There appears to be a lack of accessible information for the general public regarding the procedure for claiming work-related expenses, unless one operates a business, in which case there is guidance available. Could you kindly provide instructions on how to upload receipt proof of purchase to facilitate claiming work-related expenses as an employee?

  • @babrae
    @babrae Год назад

    Sole trader waiting for the videos in more details

  • @gyaneshpokhrel5261
    @gyaneshpokhrel5261 Год назад +1

    MyDeductions App is ONLY for Australia passport holders (Citizens)? Correct me if i'm wrong?

    • @BryanInvest
      @BryanInvest  Год назад +1

      I don't think so. I believe anyone who needs to complete an Australian tax return can use it.

  • @wagnerlucidorio1606
    @wagnerlucidorio1606 10 месяцев назад +1

    Sole trader 👍

  • @kevalchheda6927
    @kevalchheda6927 3 месяца назад

    Thanks for the video , unfortunately I am stuck in this process
    I hold TSS Visa (482) In order to do the return filing I create myGov Account and My Gov ID as you suggested , but I am stuck due to following issues
    1)While trying to link ATO to myGov Account I am asked to enter details which matches with ATO Account wherein I enter Bank details and SuperAnnuation details but I get the error as "This does not match what is held on ATO records"
    2) Then I go to Profile > Connect Digital ID but it gives error as "Strengthen your Digital ID"
    3) My current Strength of DIgital ID is BASIC since, being TSS Visa holder , only 1 option is applicable in my case which is verification through a Foreign Passport or Australian Visa. Whereas all other options like AU Passport, Driver License, Medicare Card, and Citizenship Certificate, are not applicable to me being TSS visa holders.
    Any advice in this situation , how can I proceed ahead in order to file my tax returns.

  • @timeacsanady2189
    @timeacsanady2189 Год назад

    Hi!
    I fogot to claim the car that I purchased for business uses.
    I try to amend it, could confirm if I am at the right spot?
    15. Net income and loss from balance
    Motor vehicle expenses
    P line : all other expense
    Thanks heaps!

  • @shahadathossain4374
    @shahadathossain4374 5 месяцев назад

    Hello
    I have recently shifted to a new place and in my ATO I had given my previous address. Now I'm trying to link my ATO to myGov so which address should I enter there. I've tried to edit my address in ATO but for that they want me to link it with myGov and also for that they want us to provide the address. PLEASE HELP ME

  • @tantuanphin
    @tantuanphin Год назад

    Singapore Single tier Dividend received by Australia Resident if report as other income means is taxed twice, am i right?
    as there is no tax credit for franking, please help!

  • @DuncanXaviera-w2e
    @DuncanXaviera-w2e 4 месяца назад

    Carroll Wall

  • @flyingmiata9298
    @flyingmiata9298 Год назад +1

    Hi Bryan, I'm new to investing and purchased some Tesla stock 2 months ago when it was $260 now it's down to $240 and dropping fast. I don't want to panic sell but it's hard to ignore how volatile Tesla is. Any tips to get over this fear?

    • @BryanInvest
      @BryanInvest  Год назад +1

      Hey man, this is very normal and even experienced investors feel this way sometimes. Investing in the stock market is an emotional game. The key is to have a long term mindset when investing. Every time you invest, pretend you won't see that money again for 10, 20, 30 years. Also, before investing, write down why you invested in Tesla and why you think it will go up in the future. And when it is down, go and read what you wrote down and remember the game plan. If you can't think of any reasons why the stock would go up, you probably shouldn't invest in it in the first place. Good luck man. (I also hold Tesla).

  • @daveysing1078
    @daveysing1078 Год назад +1

    Refund!
    Cheers For the video
    I made a capital gain from an overseas property, will this be in the same section as though I made capital gains from dividends?

    • @BryanInvest
      @BryanInvest  Год назад +1

      Yes, you can put it in the same place given you are an Australian resident. You could also get a foreign tax offset if you paid tax in the foreign country. Check out this article:
      www.ato.gov.au/business/international-tax-for-business/in-detail/doing-business-overseas/doing-business-overseas---what-you-need-to-know/?anchor=capitalgainsonoverseasassets#:~:text=If%20you%20are%20an%20Australian,a%20foreign%20income%20tax%20offset.

    • @daveysing1078
      @daveysing1078 Год назад

      Cheers Bryan. Il have a look

  • @Garima_tmg
    @Garima_tmg Год назад +1

    I have done that, it’s been a 30 days I haven’t received my refund yet 😢

  • @waynerobert6627
    @waynerobert6627 Год назад +1

    Hello Bryan I live 2 hours from Perth Western Australia.Been to Byfields accounts in Jan to ask to set up Portfoilo was $4000 to set up and $3000 to run each year seemed alot of money so didnt go through it with because of the recession as well.Its August now shares are still increasing so got a appiontment with RSM soon to see what they can do,All my money sitting in a term deposit not doing much.Want to do your pie chart but dont have a clue how to start is there a chance you can have me set up my retirement plan ,I an in my 50s.

    • @BryanInvest
      @BryanInvest  Год назад

      Hey Wayne! I'm living in Perth so good to see another WA person on here. Yeah, that is quite the fee. However, depending on how much capital you have to invest, it could be worth it. Since you are in your 50s and closer to retirement age, you need to be very careful with your money. You will need a good risk management plan to maximise your returns but also protect yourself. I'm guessing they will recommend a combination of index funds, bonds, and cash. However, I'm not a professional financial advisor so I can't really give advice on your situation. Do you have enough in super to retire?

    • @waynerobert6627
      @waynerobert6627 Год назад

      @@BryanInvest

    • @waynerobert6627
      @waynerobert6627 Год назад +1

      @@BryanInvest too be honest havnt had much money for a longt time,was carer for a long time so super very poor But inherited $150 from parents and saved $275 over many years so have $425 in term deposit alot I know so seeing RSM to see what they can do next wednesday But will like help to know if shares are the why to go,with my portfolio. but keep hearing Dont buy shares.

    • @BryanInvest
      @BryanInvest  Год назад

      @@waynerobert6627 yeah, if you're retiring soon then shares aren't probably the best idea since you're supposed to give them decades to handle any ups and downs in the market. You don't want to retire when the stock market is in a recession. I guess if you're that close to retirement age and still keen to invest in shares, you could consider making extra payments into super (concessional contributions). But I expect them to tell you sit on a fair chunk of your cash and leave it in term deposit.

  • @LAMA-gc9se
    @LAMA-gc9se Месяц назад

    Why I am not getting tax refund

  • @bigcnmmerb0873
    @bigcnmmerb0873 Год назад

    Hi there, so im an international student and in the mygovid page it requires that i show two forms of Identification, i only have my passport and dont currently have a drivers licence and the other fields seem to be exclusively for either PR or australian citizens, what do i do in that case

    • @BryanInvest
      @BryanInvest  Год назад

      Welcome to Australia mate! You should be able to use your Australian Visa (in your passport) or a birth certificate. Let me know if it works.

  • @yodrewtube
    @yodrewtube Год назад

    Great Vid Bryan. Id love to see a video on Sole-Trader tax return/Bas using Xero. :)

  • @terenzgapusan7352
    @terenzgapusan7352 6 месяцев назад +1

    bro its literally july 1

  • @martinpilon4075
    @martinpilon4075 6 месяцев назад +1

    Refund ✔️

  • @kyliebarnard5830
    @kyliebarnard5830 7 месяцев назад

    Have you made any videos or know anyone who makes videos about crypto currency and how it works I am interested in giving it a go.

  • @ivan_thai
    @ivan_thai Год назад +1

    REFUND

  • @shahid-irshad
    @shahid-irshad Год назад +1

    Refund !

  • @tony2252
    @tony2252 Год назад +1

    Refund

  • @walkingtofi
    @walkingtofi Год назад +1

    refund

  • @shankararajan9240
    @shankararajan9240 11 месяцев назад

    Refund

  • @saxonsmith1475
    @saxonsmith1475 6 месяцев назад

    Refund

  • @davdav8709
    @davdav8709 Год назад +1

    Refund

  • @kanojdebbarma6936
    @kanojdebbarma6936 6 месяцев назад

    Refund