Why paying tax on pension for first time?
Aged 78 and NEVER had to pay tax on same pension before ( with usual CPI increase in pension as everyone else).
Nothing has changed on my end i.e. same income (bank interest only).
Government is now taxing Pensioners!
Hi @eddysok
The age pension has always been taxable. It doesn't mean you always have to pay tax but, the payment itself is taxable.
There's a lot that goes into processing a return. Without being able to look into your account, we can't say why there's a $540 tax bill.
Feel free to reach out to us on our individuals line so we can look into it for you.
Age pension has always been taxable income.
As my question states, I have always had to submit a Tax Return (as every other Pensioner) and Tax Credits applied with the assessment result "Nil Tax to pay". NOTHING has changed on my end, so why $540+ tax bill? Could it be an ATO officer with a "Robo Cop" philosophy? I'm at a loss to find a reason.
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