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Tax Refund amount

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Newbie

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Replies 1

Hello, I had my tax return issued to me today and the amount on my notice of assesment was quite different from what was deposited into my bank account? Is there any reason why!
1 ACCEPTED SOLUTION

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Best answer

Devotee

Replies 0

Hi ram1980,

 

When your refund differs to your NOA, you should receive a statement of account that details what that difference is. Some examples may be:

- You have a tax debt from a previous year that has been repaid with part of your refund

- You had outstanding activity statements that have been paid with part of your refund

- You owed Centrelink and it has been paid with part of your refund

- You had outstanding child support and it has been paid with part of your refund.

 

Basically, if you owed the Govt money, chances are they used part of your refund to pay it.

1 REPLY 1
Highlighted

Best answer

Devotee

Replies 0

Hi ram1980,

 

When your refund differs to your NOA, you should receive a statement of account that details what that difference is. Some examples may be:

- You have a tax debt from a previous year that has been repaid with part of your refund

- You had outstanding activity statements that have been paid with part of your refund

- You owed Centrelink and it has been paid with part of your refund

- You had outstanding child support and it has been paid with part of your refund.

 

Basically, if you owed the Govt money, chances are they used part of your refund to pay it.