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Hello!
The ATO has made the following calculation in both the estimate which I received from mytax just prior to lodging my return, and identically in the Notice of assessment that I have received. Both listed my taxable income as an amount within $100 of $36,000 (I understand I can't give financial data so hopefully a $200 range will suffice!), and my tax on taxable income as within $20 of $3,775. The ATO website lists the rates brackets for the relevant FY(16-17) [ https://www.ato.gov.au/Rates/Individual-income-tax-rates/ ]. The table shows that $36,000 is clearly in the second bracket (19c on the $1), whereas the tax on taxable income amount provided appears to indicate the third bracket has applied, as the max tax under the second bracket is: $3,572.
Can you please help me understand what has happened? Has the ATO made an error, or else what other information are they processing and not showing me? It seems one of the numbers MUST be incorrect because they aren't consistent within the ATO's tables.
Thanks
Hi @tim123,
Thanks for posting! It's a little tricky to explain your notice of assessment without having access to it, so we'll try to give you some general information which might apply.
There are a few things to consider in the situation you've described:
As we mentioned, all of this is based on the simplest possible return, and may not reflect your actual situation. If you'd like to talk with someone about how your tax return was calculated, phone us on 13 28 61 between 8:00am and 6:00pm Monday to Friday - we can verify your details over the phone and access your notice of assessment so we can walk you through it.
Thanks!
Hi @tim123,
Thanks for posting! It's a little tricky to explain your notice of assessment without having access to it, so we'll try to give you some general information which might apply.
There are a few things to consider in the situation you've described:
As we mentioned, all of this is based on the simplest possible return, and may not reflect your actual situation. If you'd like to talk with someone about how your tax return was calculated, phone us on 13 28 61 between 8:00am and 6:00pm Monday to Friday - we can verify your details over the phone and access your notice of assessment so we can walk you through it.
Thanks!
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