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Why did I get such a huge tax return?

I'm new

Views 114

Replies 1

So basically i'm your average 20yo student that worked a pretty normal salary for all of 2020, and I quit in Feb to study.

I expected maybe $2000 max in returns this year since I hadn't worked in a few months, but I got a whopping $8000. I just don't understand how, I entered all my details correctly and didn't do anything dodgy, to be fair I did work long hours/penalty rates/  extra shifts etc, but it just seems like a LOT more than what anyone else I know has gotten, including my parents who earn 6 figures. My job was not fancy by any means, It just doesn't make sense to me.

 

I'm honestly kinda freaking out because I don't want the tax office to chase me up in a few years.  I contacted Etax and they said everything looks fine, and that the office actually "withheld too much tax from me than what they should have".  I just want to be safe just in case.

 

Anyone else experienced something similar? 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 0

Is your employer maybe withholding extra tax for HECS / HELP and you've paid off your student loan already? This will often result in a large refund. 

There is a tax calculator on ato.gov.au where you can put in the figures from your payment summary to double check. 

 

1 REPLY 1

Most helpful response

Devotee

Replies 0

Is your employer maybe withholding extra tax for HECS / HELP and you've paid off your student loan already? This will often result in a large refund. 

There is a tax calculator on ato.gov.au where you can put in the figures from your payment summary to double check.