Year-End Checklist for New Migrants in Australia 2025: Tax, Super, Banking, Visa

Year-End Checklist for New Migrants in Australia (2025)

31 December 2025 • Updated for tax year 2025–26

End of year is the right time to review tax, super, banking, and visa status.

As 2025 closes, new migrants in Australia should review tax obligations, superannuation accounts, banking setup, and visa compliance. This checklist ensures you start 2026 financially organised and legally compliant.

1. Tax: lodge, records, offsets
2. Superannuation: consolidate and review
3. Banking: accounts, savings, transfers
4. Visa: work rights and compliance
5. Budget: set goals for 2026
6. FAQs

1. Tax: Lodge, Records, Offsets

• Check your TFN: ensure it’s linked to employers and bank accounts.
• myGov + ATO: link your ATO account to view income, PAYG, and deductions.
• Keep records: work-related expenses, transport, home office, courses, tools, uniforms.
• Offsets: check Low and Middle Income Offset (if applicable), spouse, dependent, or education expenses.
• Lodge: tax return via myTax or a registered tax agent. Due date varies (usually 31 Oct for self-lodge).

Use myGov to review income statements and pre-filled deductions.

2. Superannuation: Consolidate and Review

• Log in: check your super fund account for contributions from employers.
• Consolidate: combine multiple super accounts to avoid duplicate fees.
• Investment options: review default vs growth/conservative, depending on risk profile.
• Beneficiaries: nominate to ensure payout goes to the right person.
• Eligibility: temporary residents may withdraw super when leaving permanently.

Consolidate accounts through myGov or directly with funds.

3. Banking: Accounts, Savings, Transfers

• Daily use: set up a transaction account with no monthly fees.
• Savings: move excess funds to a high-interest savings account (HISA).
• International transfers: compare Wise, OFX, Remitly, bank FX rates.
• Direct debits: ensure bills and subscriptions link to the right account.
• Credit history: pay bills on time to build a good Australian credit score.

Automate savings transfers and check bank fees annually.

4. Visa: Work Rights and Compliance

• Check VEVO: confirm work rights, expiry date, and conditions.
• Bridging visa holders: monitor for changes if your main visa is in process.
• Sponsorship: ensure employer compliance and role alignment.
• PR/citizenship: check eligibility dates; gather documents in advance.

Save copies of visa grant letters and keep expiry alerts.

5. Budget: Set Goals for 2026

• Emergency fund: aim for 3–6 months of living costs.
• Debt: pay off high-interest credit cards and personal loans.
• Invest: learn about ETFs, managed funds, or super top-ups.
• Track spending: use budgeting apps like Frollo, Pocketbook, MoneyBrilliant.
• Plan travel: book early for cheaper interstate/international flights.

End of year is the right time to reset goals and habits.

FAQs

Do I need to lodge tax if I arrived mid-year?

Yes, if you earned any income in Australia. Lodge even if under threshold to claim refunds.

Can temporary residents access super?

Yes, via a Departing Australia Superannuation Payment (DASP) once you leave permanently.

How do I check my visa details?

Use the free VEVO app/site to view expiry date, conditions, and work rights.