Stay On Top of Your Taxes
In this article, we’re going to share a practical and easy-to-follow tip to help you stay on top of your taxes during your time in Australia. With everything moving fast and so much to remember, keeping things organized will save you stress later. Straight to the point, here’s what we suggest:
💡 Pro Tax Tip: This article is especially important for people who have an ABN, as keeping track of their earnings and expenses is crucial. When managing your own business, you’re responsible for declaring your income and ensuring tax compliance.
Create Your Spreadsheet 💻
We recommend using a single spreadsheet, stored on your preferred cloud service (like Google Drive), so you can access it remotely from any device. This spreadsheet will serve as your central place for tracking both your work-related expenses and payslips.
Start by creating a new spreadsheet in your cloud storage app. Title it something simple, like “Tax Tracking Australia.” Within the spreadsheet, create two tabs:
- Work-Related Expenses
- Payslips
Set Up Your "Work-Related Expenses" Tab ✏️
This tab will be your go-to place for tracking any expenses you incur that are related to your work (things like tools, materials, travel expenses, etc.).
Set up the following three columns:
- Name of Expense
- Month
- Amount
This will help you stay organized and ensure you don’t miss out on any potential deductions when it’s time to file your tax return.
Here’s an example:
Name of Expense
Month
Amount
Tools and Equipment
12/2024
$150.00
Protective Gear
03/2025
$100.00
Transport Costs
04/2025
$50.00
Materials
04/2025
$80.00
Phone Bills
04/2025
$20.00
Total
$400.00
Set Up Your "Payslips" Tab ✏️
The second tab will track any invoices you issue if you’re working as an employee, freelance or running a small business.
Set up these three columns:
- Job
- Date
- Amount
This will help you stay on top of what you’ve earned and ensure you keep a record of all your income sources.
Example:
Job Title
Date
Amount
Gardener
01/12/2024
$800.00
Gardener
08/12/2024
$700.00
Gardener
15/12/2024
$1000.00
Waiter
01/01/2025
$1100.00
Waiter
08/01/2025
$650.00
Total
$4,250.00
💡 Pro Tax Tip: Here’s a copy for you to use as template!
Keep It Updated 🔁
Now that you’ve set up the tabs, the key is to stay consistent with updating them. Whenever you make a work-related purchase or you receive your salary at your job, make sure to log it in your spreadsheet.
This step is by far the easiest to slip by, but once you have the habit developed, you’ll thank yourself when it comes to filing your taxes later down the road.
Need Help? We’ve Got You. 💬
If you run into any issues—whether it’s accessing myGov, linking to the ATO, or figuring out your tax and super—we’ve got your back. Reach out to us anytime via WhatsApp or email, and we’ll help you get things sorted, no stress.
Our next guide walks you through everything you need to know to get started with your superannuation—step-by-step and stress-free. 👇