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Withholding tax refund

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Newbie

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I recently moved to Australia from New Zealand and started working 6/7 weeks ago. Since I did not have a tax number my employer has been putting about 40% of my pay each week into “PAYG WITHHOLDING” for tax. I now have my tax number all sorted. Will I be automatically refunded the extra tax paid by my employer or government or do I need to apply to get it back. Thanks
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Hi @Caleb1985 

 

You will need to lodge a tax return when the financial year has finished. When you lodge your tax return, your tax liability will be worrked out and the tax your employer has withheld will be credited towards that liability. You will be refunded any amounts leftover or you will incur a debt if there hasn't been enough withheld. We will let you know this information on a notice of assessment after your tax return has been processed.

 

I recommend going through the information on our website about lodging your first tax return. This information includes when and how you can lodge.

 

Hope this helps.

Thanks, Ari

1 REPLY 1
Highlighted

Best answer

Community Support

Replies 0

Hi @Caleb1985 

 

You will need to lodge a tax return when the financial year has finished. When you lodge your tax return, your tax liability will be worrked out and the tax your employer has withheld will be credited towards that liability. You will be refunded any amounts leftover or you will incur a debt if there hasn't been enough withheld. We will let you know this information on a notice of assessment after your tax return has been processed.

 

I recommend going through the information on our website about lodging your first tax return. This information includes when and how you can lodge.

 

Hope this helps.

Thanks, Ari