it's BAS time, and i calculated my quarterly payment based on the oct 2024 notification that my instalments were now 11.44%
however, the online activity statement has unilaterally decided that instead of my calculated ~$5.25k, that my impost is $500 less
i presume that might be because of the forthcoming tax rate change (The bottom tax rate decreases from 19% to 16% The 32.5% tax rate decreases to 30% The threshold above which the 37% tax rate applies increases from $120,000 to $135,000)
but my question is - why didn't the ato make any reference to that in the actual activity statement (if that is indeed the reason) ?
all i know is that my calculated debt and what they want are quite different numbers, with no reference to any reason at the point of calculation
it's not rocket science to inform the tax payer when such a change has applied, rather than leaving them wonder why the ato can't accurately multiply by 0.1144 (or insert your own instalment rate here)
over an hour on the phone to attempt to have this confirmed eventually saw the line drop out when it seemed i might be close to some confirmation... so, is anyone here able to clarify the reason for the disparity, and for bonus points, explain why the activity statement couldn't have made some reference to reason(s) for a variation that was none of my doing, so i might be reassured the site wasn't broken
thanks for any news; i can't listen to that hold music for another day of my life
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