I've got a tax question about my situation. The company I was working for went into liquidation in March this year. I’m owed a lot of money including 5 months of unpaid salary. (november 2021 to march2022). Ive only been paid July to October this financial year.
I am getting some money from FEG( The Fair Entitlement Guarantee) for lost wages / redundancy etc. I was hoping that the FEG payment would come through this financial year, however it looks like it will now be paid in July, therefor in next financial year. (2022/2023)
My question is, since FEG payment will be made in next financial year (2022/2023), will the tax be attributed to next financial year? Or can I request for it to be attributed to this financial year. (since the money was earned this financial year - 2021/2022)
I have just started a new job, so it seems very unfair if the FEG income will be attributed to next financial year as it will push me into a higher tax bracket. I have already been disadvantaged enough, paying extra tax as well will be an even bigger kick in the guts.
Some guidance would be most appreciated.
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