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Income Tax Payment

I'm new

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I recently found out that I needed to pay income tax. I've always thought that the PAYG in my payslips meant that I was paying income taxes every time I get my salary. As someone who does not understand taxes and is extremely under a budget to get someone help me with my tax, could someone explain to me what this means, in the simplest way possible? 

 

Thank you.

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Most helpful response

Taxicorn

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@asdfghjkl 

 

Do you mean that you now have a tax debt since lodging your 2020 tax return?

If so it could mean that you didn't pay enough tax.

 

You are taxed on your total taxable income, which includes investments, Centrelink, rental income etc.

 

1 REPLY 1

Most helpful response

Taxicorn

Replies 0

@asdfghjkl 

 

Do you mean that you now have a tax debt since lodging your 2020 tax return?

If so it could mean that you didn't pay enough tax.

 

You are taxed on your total taxable income, which includes investments, Centrelink, rental income etc.