Details You Need to Know for your Individual Tax Return in 2021

Receive your 2021 Tax Return refund in 14-days with Anthony Long subject to ATO processing.

Book your 2021 tax return appointment with a tax accountant here


Australian Tax

Individual Tax Returns 2021

All the details to make sure you’re prepared this tax season

Anthony Long & Co

5 min read | Publish date: 01/06/2021

Tax returns in Australia fall upon the individual to organise and lodge their tax return with the Australian Taxation Office (ATO) every year. The time period this tax return covers is the 2020/21 financial year which started on 01 July 2020 and ends 30 June 2021.

Though some people receive a bill from the ATO for not paying enough tax, most people receive money back into their bank account and the Anthony Long tax accountants are here to help you make sure you get the best tax refund possible with no mistakes.

Here is a list of tax return 2021 information discussed below:

  • Do you need to lodge a Tax Return in 2021?
    • Australian Tax Free Threshold
    • Non-Lodgment Advice
    • Rebates and Exempt Incomes
  • 2021 tax return deadline
    • Anthony Long tax accountants extended deadline
    • Submit your own tax return online due date
    • Failure to lodge on time penalties
  • What do I need to bring to the tax return appointment?
  • Tax deductions
    • What you can claim back on tax your tax return
    • What you can’t claim back on tax
    • Working from home expenses
    • Claiming a computer, phone, tablet or electronic device
    • Depreciating in value assets
  • How long do tax returns take to process in 2021?
  • Where will my Anthony Long tax return appointment be?
    • In-person meeting
    • Tax return online

Important note that this is general tax information which may or may not apply to your personal circumstances. If you need financial advice our tax accountants will be happy to clarify your position and tax requirements. Make an appointment by phoning 0490 795 725 or submitting the above contact form.

retired couple doing tax return retired couple doing tax return

Do you need to lodge a 2021 tax return?

If you earned any sort of taxable income in the 2020/21 financial year then yes, you should lodge a 2021 tax return with the Australian Tax Office (ATO).

Be careful when calculating your taxable income because it can include:

  • Your primary job income
  • Side-jobs
  • Contract work
  • Consulting
  • Any interest you received for bank savings
  • Income or profit from any investments
  • Plus more

These incomes also contribute towards the Australian tax free threshold in 2021 which is $18,200. This means if your total taxable income was less than $18,200 in the 2020/21 financial year then you don’t have to pay any income tax to the ATO - but you will need to lodge a return to have the already paid tax refunded to your bank account. This amount differs for seniors, pensioners and other circumstances.

Even if you didn’t work this financial year you may still need to lodge a 2021 tax return as there are many Government rebates available, such as the private health rebate, and a long list of exempt incomes that our tax accountants are aware of and can provide financial advice on.

Non Lodgement Advice
What happens if you had no income, no rebates available, made less than $18,200 with no tax withheld and no other incomes?

Instead of a tax return, you may need to lodge a Non-Lodgement Advice 2021 with the ATO though we recommend speaking to one of our tax accountants to be certain.

In summary
Everyone needs to lodge either a 2021 Tax Return or a “Non-Lodgment Advice” form with the ATO in 2021 but we highly recommend giving our tax accountants a call to be certain of your financial responsibilities.

When are 2021 tax returns due in Australia?

Anthony Long has an extended deadline to submit your 2021 individual tax returns which is 15 May 2022 because as he is a fully qualified and registered tax agent.

For people wanting to submit their own 2021 tax returns online or via post, the ATO advises to do so before 21 October 2021 otherwise they may be subject to a failure to lodge on time penalty

What happens if you miss the 21 October 2021 deadline to submit your own tax return? You can make an appointment with the Anthony Long tax accountants prior to 15 May 2022 to submit your return without penalty, or, contact the ATO as soon as possible.

young couple doing tax return young couple doing tax return

What do I need to bring to my appointment with a tax accountant?

Along with your Tax File Number there are many bits of information needed that our tax accountants will need to get the maximum refund on your 2021 tax return claim.

A lot of required information is connected via MyGov and the ATO however not everybody is fully set up nor do tax accountants have access to all required information.

Some of the main thing your accountant must understand is you total income which may include:

  • PAYG summary (previously known as a Group Certificate)
  • Bank statements
  • Government pensions
  • Capital gains
  • Dividend returns
  • Rental income
  • Distributions from trusts etc
  • And more

To understand exactly what documents you need to complete your 2021 tax return for your financial situation, after you submit the above contact form or while making a tax appointment by phoning 0490 795 725, please confirm with the Anthony Long team what information will be needed to supply at your 2021 tax return meeting.

Please also have prepared your list of work expenses you want to use as tax deductions which is detailed below.

finance report summary finance report summary

Tax deductions, work expenses and working from home expenses you can claim on your individual tax return 2021.

If you are an employee then you may be entitled to claim back your costs that were spent for the purposes of your job, however this varies upon industry and what the costs were for.

If you want to claim a work deduction then the ATO insists you meet these three requirements:

  • You must have spent the money yourself and weren't reimbursed
  • The expenses must directly relate to earning your income
  • You must have a record to prove it (usually a receipt but can also include bank statements or diary entries).

(Australian Tax Office website)

Other expenses you can deduct in your tax return in 2021 may include:

  • Vehicle and travel costs
  • Telephone and internet costs
  • Dry cleaning
  • Uniform expenses
  • Computer software
  • Education, courses and seminars
  • Tool and equipment
  • Donations
  • Superannuation contributions
  • Fees and interest of certain accounts
  • And more

Working From Home Expenses
A common tax deduction in 2021 will be working from home expenses given that so many more people have shifted from location-based employment to remote working.

Firstly, if an employer has already repays you for your money spent on the setup/costs then you can’t claim them on your 2021 tax return.

Other things you can’t claim on your tax return are:

  • Coffee
  • Tea
  • Milk and other grocery expenses
  • Your children's education requirements (setting them up for online learning)

Interested in claiming a computer, phone, tablet or electronic device as a work expense? You may be able to claim them however you must:
Be able to demonstrate how you use them for work
Only claim the percentage of time you use them for work purposes

Assets depreciating in value
There are strict ways of which the ATO calculates home expenses so we recommend making an appointment with Anthony Long tax accountants to ensure you get the most from your 2021 tax return and make no mistakes when claiming tax deductions and assets that are declining in value or depreciating

australian calculator and money australian calculator and money

How long do individual tax returns take to process in 2021?

Anthony Long chartered accountant and his professional tax accountants offer tax return rebate money in 14-days after lodgement though this does depend on ATO processing times. Once complete and approved all tax return money will be directly deposited into your nominated bank account.

lady checking her tas return lady checking her tas return

Where do I see Anthony Long tax accountants for my 2021 tax return appointment?

Anthony Long tax accountants work from Melbourne, Bendigo, Melton and Geelong locations and have been serving individuals and businesses Australia-wide with their accounting and tax needs for 30+ years.

If you are outside a face-to-face service area then Anthony Long offers online tax returns via email, video conferencing or phone calls so no matter where you are you our tax accountants can lodge your 2021 tax return, get the most value on your refund and offer a 14-day return (depending on ATO processing times).

You can make an appointment via the form and our friendly team will reply to organise a tax appointment and discuss further details. Otherwise you can phone 0490 795 725 right now.

Book your 2021 tax return appointment with a tax accountant here


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