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Get started with these 4 simple steps.

There are few certainties in life, and one of them is taxes. When it comes to tax time, many of us would rather put off doing our taxes than cross them off the to-do list.

But did you know, most Australians on average receive $2,571* from their tax return? That’s why it’s worth taking the time to prepare and do them properly. To help make things easy, here are a few simple steps to get you started.

Step 1: Are your details up to date?

Check that your personal details are complete and up to date (including your tax-residency status). Any details that don't match the ATO records can cause processing delays.

Step 2: Download your Interest and Tax summary

Quickly find out how much you can claim by searching up to three years of transaction history in Online and Mobile Banking.

Step 3: Get your deductions sorted.

Download up to seven years of statements to help you reconcile your finances when you complete your return.

Step 4: Collect other summary statements

Download up to seven years of statements to help you reconcile your finances when you complete your return.

Forgot your password or 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.

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Important things to consider before you get started on your Tax Return

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.

Receiving your Tax Refund

Whether it's online, by mail or registered accountant, your tax return should be lodged by 31 October 2020. If you qualify for a tax refund and nominated your Westpac account on your tax return, any tax refund will be deposited directly into your account. 

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Things you should know

Westpac Online Banking Terms and Conditions apply.

This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it.

*As cited in the Taxation statistics 2016–17 publication available here.

Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request.

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.