hi all,
i was forced to make an $8,000 withdrawal from my super due to hardship but only received $6300 after tax and was wondering do i get any of this back at tax return time if my annual income is only benefits and less than $20,000?
thanks for any help
kind regards
You would be entitled to get all your tax back if you lodge a tax return. (as long as you have no Centrelink or Tax Office debts) The link below is to the beneficiary and SAPTO tax offset calculator.
This will calculate the tax offset you are entitled to. This amount will offset the tax you would normally pay on the total taxable income for the year. If the offset is more than the tax you would pay then the tax withheld will be refunded.
Simple tax calculator to calculate tax on total income. (use 2022/23 year)
https://www.ato.gov.au/single-page-applications/calculatorsandtools?anchor=STC#STC/questions
You would be entitled to get all your tax back if you lodge a tax return. (as long as you have no Centrelink or Tax Office debts) The link below is to the beneficiary and SAPTO tax offset calculator.
This will calculate the tax offset you are entitled to. This amount will offset the tax you would normally pay on the total taxable income for the year. If the offset is more than the tax you would pay then the tax withheld will be refunded.
Simple tax calculator to calculate tax on total income. (use 2022/23 year)
https://www.ato.gov.au/single-page-applications/calculatorsandtools?anchor=STC#STC/questions
thanks for the great help and quick reply Taxduck
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