First Time Tax Return –
Maximise Your Tax Refund

First Time Tax Return – What You Need to Know and How to Get Your Refund

Written by Mark Walmsley CA — Chartered Accountant and Registered Tax Agent (TPB 25498770)

Last updated 11 May 2026

Your first tax return doesn't have to be confusing. GoTax is an ATO-registered online tax service — real Chartered Accountants, plain-English guidance, and fixed pricing from $0 for first-time lodgers under 21. Most refunds land within 10 business days.

So, You Got Your First Job — What's This Tax Thing?

Congrats — you've joined the workforce and the pay's rolling in. Then you notice a chunk has gone missing. Welcome to the world of tax.

Tax is how Australia funds roads, hospitals, schools, and public services. Think of it as the cost of living in a country with functioning infrastructure. Your employer withholds an estimated amount each pay cycle and sends it to the ATO on your behalf.

Here's the good part: at the end of the financial year, you lodge a tax return to reconcile what you paid against what you actually owed. If you overpaid — which most first-timers do — the ATO refunds the difference.

What Is a Tax Return?

A tax return is a summary you send to the ATO each year showing:

All income — wages, Centrelink payments, investments, side income

Tax withheld — the amount your employer already sent to the ATO

Deductions — work-related expenses that reduce your taxable income

If you paid more tax than you owed, the ATO refunds the difference. If you paid less, you settle the shortfall — but GoTax will help you plan for that before it becomes an issue.

Why Lodge Even If My Boss Withholds Tax?

Your employer withholds tax based on an estimate. Whether they got it right depends on your total income for the year — multiple jobs, Centrelink, or investment income can all affect the final figure.

Paid too much? A refund is waiting. Paid too little? A small top-up is due. Earned under $18,200 for the year? You may owe no tax at all, and lodging triggers a full refund of everything withheld.

Lodging is the only way to know for certain — and with GoTax, it takes minutes.

What Is a Tax File Number (TFN)?

Your TFN is your unique personal tax ID issued by the ATO. You need it to:

Get paid by an employer

Open a bank account

Access Centrelink payments

Apply for your TFN at ato.gov.au/tfn. It's free, and you only ever get one. Keep it private — treat it like a bank PIN.

When Do You Lodge Your First Tax Return?

The tax year runs 1 July to 30 June. Returns are due by 31 October each year.

Miss the deadline and the ATO can fine you up to $1,565. Register with GoTax before 31 October and you may be eligible for an automatic lodgement extension — giving you more time without the penalty risk.

How to Lodge Your First Tax Return — Three Options

*Free for first-time lodgers under 21 via the Tax Virgins program. All other GoTax prices are fixed — no hidden fees.

With GoTax, the process is straightforward:

1. Create an account at www.gotax.com.au

2. Answer plain-English questions — no forms, no jargon

3. Review your ATO pre-filled income data

4. Add any work-related deductions

5. Submit — a Chartered Accountant checks your return before it goes to the ATO

Is My First Tax Return Free?

If you have never lodged a tax return before and you are under 21, your GoTax return is $0 through the Tax Virgins program. For everyone else, a full individual return is $65, or $25 for a Quick Tax Return. All prices are fixed — no surprises at checkout.

What Happens If You Lodge Late?

The ATO's Failure to Lodge (FTL) penalty starts at $313 and increases the longer you wait — up to $1,565 for returns more than 12 weeks overdue.

Lodge early with GoTax and you're done before the October rush. If you've missed past years, GoTax can help you catch up — multiple-year lodgements are straightforward through the platform.

Frequently Asked Questions

Are Centrelink payments taxed?

Some Centrelink payments are taxable and some are not. Youth Allowance and Austudy are taxable if you also have employment income. If Centrelink is your only income and it falls below the tax-free threshold ($18,200), you are unlikely to owe any tax — but lodging a return is still required to confirm this and claim back any tax withheld.

What if I make a mistake on my return?

GoTax reviews every return before it is lodged, which catches most errors before they reach the ATO. If a mistake slips through, you can lodge an amendment — the ATO accepts these and GoTax will guide you through the process. There is no penalty for honest errors corrected promptly.

What is a tax deduction?

A deduction is a work-related expense that reduces your taxable income — meaning a bigger refund. Common deductions include uniforms, tools, work-related travel, and phone expenses used for work. You need receipts or records to claim. Not sure what you can claim? Use our free Tax Calculator to estimate your refund before you start.

Can students claim deductions?

Only if your study is directly related to your current job or apprenticeship. General education undertaken to get into a new career is not deductible. If you're an apprentice or studying to advance in your existing role, speak to GoTax — there may be deductions available.

How fast do refunds arrive?

Most GoTax users receive their ATO refund within 10 business days of lodgement. The ATO processes electronically-lodged returns faster than paper ones. GoTax lodges electronically — your return goes straight to the ATO the same day it's reviewed and approved.

Do I need a registered tax agent to lodge my first return?

You are not legally required to use a tax agent — the ATO's free myTax system is available to everyone. However, under Australian law only registered tax agents can charge a fee to prepare and lodge your return on your behalf. GoTax is registered with the Tax Practitioners Board (TPB Registration 25498770). The advantage of using a registered agent is that your return is reviewed by a professional before lodgement — reducing your risk of an ATO query.

Not sure what your refund might be? Use the free GoTax Tax Calculator for an instant estimate before you start.

Mark Walmsley CA is a Chartered Accountant and Registered Tax Agent with 40 years of Australian tax practice experience. He holds a Bachelor of Business (Accountancy) and a Graduate Diploma of Taxation, and is a member of Chartered Accountants Australia and New Zealand. Mark is the principal of GoTax and the Registered Tax Agent responsible for all GoTax-lodged returns (TPB Registration 25498770). Every tax return submitted through GoTax is finalised under his registration — no outsourcing, no offshore processing.

Liability limited by a scheme approved under Professional Standards Legislation.