You can do your return as late as 31 October but why would you? The sooner you do it, the sooner you can use the money refunded to you. Especially if you want compounding effects.

I email my tracker to my agent on 1^st July, she usually has it submitted within a week, and my refund is often done within another 2 weeks. The refund goes straight into my WISE account and then it’s time to decide what to do with it.

Previously I have (feel free to copy):

• Put it all or a portion of it into my Super to compound
• Put $3000 of it in my Spouses super for that tax years spouse-super-contributions
• All or some of it towards a holiday 
• Help my eldest out with university, paying down tuition fees
• Keep it for car services and annual insurance
• Some into our children’s Super’s – We aim to make sure there is $25000 in our children’s Supers before they each turn 25. From age 25 with employer contributions, own post tax $85 monthly deposit, government annual co-contribution and salary sacrifice. They will retire multi-millionaires (at today’s standards) through expediated compounding starting early.