Are you ready for tax time?
Check you can still sign in to your account
Do you remember your password and customer ID?
If you’re not sure, you can instantly reset your password with Westpac Protect™ SMS Code. Not only does it allow you to securely reset your password, it can also alert you to any unauthorised activity and gives you the option of higher daily transaction limits.
Check your details and your deductions
Are your details up to date?
Your Tax File Number (and your tax residency status) are the most important for the ATO. It’s also a good idea to check your contact details are correct, as this helps to keep your account secure.
Get a head start on your tax deductions
With only a few weeks before the end of the financial year, you can capture almost all of your deductions now. An easy way to do this is by searching your transaction history in Online Banking and checking your direct debits for regular costs.
Work from home?
You can choose between the government’s default amount or manually add up your costs. This year, due to the Coronavirus pandemic that has resulted in a large percentage of the workforce working from home, the government has simplified the requirements, so employees working from home since March 17 2020 can claim 80 cents per hour worked to cover all their running expenses. For example, if you work 40 hours a week, you can claim a deduction of about $32 for that week.
Things you should know
Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding.
Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.