Hi my reported income was $89,054.37 (including $20,256.00 withheld). My gross weekly income is $1947.00 which is $101,244.00 per year with weekly tax of $447.00 which is $23,244 per year.
What am I missing please?
If there's any more details you need please ask I will provide if I can
Thanks
Best to ask your employer about the discrepancy
Check the last payslip of that financial year?
Generally, wages are reported and taxed based on when the wages are paid
Perhaps there's a salary sacrifice arrangement and the employer is incorrectly reporting the post-sacrificed amount as gross? 🤔 Deanne
Hey there @deanvr,
You'll need to check what's been reported by your employer.
You can view your income statement through ATO online services via myGov. This statement shows the actual income paid to you and tax withheld during the financial year. The figures your employer reports are based on what you were actually paid, not what you would earn if you worked a full 52 weeks.
If you believe your employer has reported incorrect amounts on your income statement, you'll need to contact them first to check their records. They're responsible for providing accurate payment summaries. If there's an error, they need to lodge an amended income statement.
Once you lodge your tax return, we'll calculate your correct tax liability based on the actual income you earned during the year. If too much tax was withheld, you'll receive a refund when we process your return.
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