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Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
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Credit balance in my ATO Account Balance

I'm new

Views 6644

Replies 2

While browsing thru my ATO details I found an amount in credit in my Account Balance section. It does not seem to show what year this is from. How can I claim this credit back?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Certified Response

Megastar

Replies 0

Hi, 

You can get the credit transferrd to other account to offset other tax liability or can request a refund. 

Please refer the below link for details

 

https://www.ato.gov.au/Business/Business-Portal/Using-the-Business-Portal/Request-a-refund-or-transf...

2 REPLIES 2

Most helpful response

ATO Certified Response

Megastar

Replies 0

Hi, 

You can get the credit transferrd to other account to offset other tax liability or can request a refund. 

Please refer the below link for details

 

https://www.ato.gov.au/Business/Business-Portal/Using-the-Business-Portal/Request-a-refund-or-transf...

Anonymous

Replies 0

If your banking account details are not up to date on the ATO systems it will not process the credit.