Australia's financial year runs from 1 July to 30 June. This is different from the calendar year and different from the tax year used in most European countries, which can catch working holiday makers off guard when they first arrive.
What the financial year means for you
Every income you earn between 1 July and 30 June of the following year is assessed together as one financial year's worth of earnings. If you arrived in Australia in October 2024 and worked through to April 2025, all of that income falls within the 2024-25 financial year, which runs from 1 July 2024 to 30 June 2025.
At the end of each financial year, you are required to lodge a tax return with the ATO declaring all income earned during that period. The ATO then calculates your actual tax liability for the year and compares it to what was already withheld from your wages. If more was withheld than you owed, the difference is refunded to you. If less was withheld, you will owe the difference.
When the tax return deadline is
The deadline for lodging a tax return is 31 October following the end of the financial year. So for the 2024-25 financial year, which ends on 30 June 2025, the deadline to lodge your return is 31 October 2025.
If you are using a registered tax agent to lodge your return, you may be entitled to a later deadline. Tax agents have extended lodgment dates for their clients, which can give you additional time if you need it.
What if you left Australia before 30 June
If you left Australia before the end of the financial year, you are still required to lodge a tax return covering the income you earned during that year. The good news is that the return can be lodged online from anywhere in the world, so being back in your home country is no barrier. You can also appoint a tax agent to lodge on your behalf while you are overseas.
What you need to lodge your return
You will need your income statements from each employer you worked for, your TFN, and an Australian bank account for any refund to be paid into. If you no longer have an Australian bank account, there are ways to arrange the refund, which your tax agent can help with. See our guide on lodging a tax return from overseas for more detail.
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