If you're currently completing a paid internship in Australia, you may have come across the term End of Financial Year, or EOFY. While it might not seem directly relevant at first glance, EOFY is actually an important time of year that can impact your finances, particularly if you’ve been earning money during your stay.

What is EOFY?

In Australia, the financial year runs from 1 July to 30 June. At the end of this period, anyone who has earned income — including international interns — is required to report it to the Australian Taxation Office (ATO). This process allows the government to check whether you've paid the correct amount of tax. In many cases, especially for temporary residents, this process results in a tax refund.

Why does it matter to interns?

If you received any form of payment during your internship, you are considered a temporary resident for tax purposes, and you are legally required to submit a tax return. This applies no matter how long you’ve been in the country.

If your internship was unpaid and you had no other job or source of income in Australia, you generally do not need to lodge a tax return.

How do you lodge a tax return — and when?

To submit your return, you’ll need to create a myGov account (if you don’t already have one) and link it to the ATO. From early July, your Income Statement — which outlines what you earned and how much tax was withheld — will be uploaded by your employer. Most employers finalise this by mid-July.

You can lodge your tax return from 1 July, and if you are doing it yourself, the deadline is 31 October. If you choose to use a registered tax agent, you may be granted an extension, provided you engage their services before the 31 October cut-off.

If you’re owed a refund, lodging early is often worthwhile. In most cases, refunds are processed within two to four weeks.

Leaving Australia before 30 June?

If your internship ends before the end of the financial year and you’re planning to return home, you don’t have to wait until July to lodge your return. You can submit an early tax return, known as a "return for individuals leaving Australia".

Additionally, if superannuation was paid during your internship, you may be eligible to apply for a Departing Australia Superannuation Payment (DASP) once you leave the country.

Final thoughts

While EOFY might seem like something that only concerns businesses, it’s actually a crucial moment for anyone earning income in Australia — including interns. Lodging your tax return correctly ensures you meet your legal obligations and could even result in some extra money in your pocket.

Remember these key dates:

- 1 July – Tax return season opens

- Mid-July – Most income statements are available

- 31 October – Deadline to lodge (if doing it yourself)

If you have any questions or need help, your Internship Program Supervisor (IPS) is here to support you and can provide additional resources to guide you through the process.