why have i got a tax debt

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(I'm new)I'm new

5 July 2023

I work PPT (3 days a week) paid weekly & in March I picked up a second casual job which gives me about 3-4 days a fortnight, so pay fluctuates -paid fortnightly.

I claim the tax free threshold on my PPT job as it pays the highest. I have selected “no tax free threshold” on my second job & according to the ATO calculations I’m paying the correct amount in tax.

Started to prepare my tax return & it says I owe money, how can this be?

PPT $49,920 taxed $7696

Casual $6,695 taxed $1500

Total $56,615 taxed $9196

I have no student loans and I am a resident? Please help 🫣

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FinanceDude

(Champion)Champion

5 July 2023

It would appear that the tax withheld throughout the year was less than your end-of-year tax liability.

The How to lodge your tax return webpage states...

"If you pay more tax than you need to, we will refund the extra amount to you (this is known as a tax refund). If you don't pay enough tax then you may receive a tax bill."

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Most helpful reply

FinanceDude

(Champion)Champion

5 July 2023

It would appear that the tax withheld throughout the year was less than your end-of-year tax liability.

The How to lodge your tax return webpage states...

"If you pay more tax than you need to, we will refund the extra amount to you (this is known as a tax refund). If you don't pay enough tax then you may receive a tax bill."

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why have i got a tax debt

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