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Re: I need help

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Newbie

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Replies 8

I worked this last year for my TFN and when I made my income tax return, the website is informing me that I need to pay an amount … I honestly did not understand, the company I work with discounted my tax on all my payments and because now I need to pay something, I thought I was going to receive.

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Most helpful response

Devotee

Replies 1

Did you have a hecs debt that started last financial year? It can be a number of things why you may need to pay but it's best to wait until your tax return is finished processing. Your notice of assessment will show you how they've calculated the outcome. If you see a mistake you can lodge an amendment online to correct it
8 REPLIES 8
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Newbie

Replies 2

Unfortunately sometimes not enough gets withheld by your employer and you do end up with a bill at the end of the year (I've had a few myself). The tax return is to work out whether you have paid the correct amount during the course of the year.

 

The good news is that the ATO are pretty good if you can't pay straight away. Have a look at this page which talks about payment plans https://www.ato.gov.au/general/paying-the-ato/help-with-paying/

 

When your notice of assessment comes through you can always call up and get an account explanation as well if you're not sure what has happened.

 

All the best!

Newbie

Replies 1

This and my first year working for TFN, I earned 42 thousand dollars and the company I work deducted me a total of 7 thousand dollars adding up all my payslip, and when I made the declaration, the information appeared that I needed to pay 6,400 dollars income tax, I thought I would get something because I had so much discount on the tax rate on all my salaries, I'm really confused

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Devotee

Replies 0

Hi @brennda 

 

Are you an Australian Resident for tax purposes??? 

 

It seems as though you may have been taxed at non-resident rates....

 

I did a quick calculation using "non-resident" tax rates, and I worked out that you will have to pay about the same amount that is in your notice of assessment.

 

If you are not a resident of Australia for tax purposes then the notice of assessment you have is correct, and you will have to pay the tax liability, if you have received your notice of assessment.

 

let us know how you go !!!

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Devotee

Replies 2

Hi @brennda 

 

If you have not received a "Notice of Assessment" then your return has not finished processing.

 

If this is the case, just ignore all the notifications you see because the only one that counts is the final one which will be a "Notice of Assessment" and that will state whether you have to pay or are going to recieve a refund.

https://www.ato.gov.au/individuals/lodging-your-tax-return/in-detail/your-notice-of-assessment/

 

All the BeST!!

 

 

 

Highlighted

Newbie

Replies 1

This and my first year working for TFN, I earned 42 thousand dollars and the company I work deducted me a total of 7 thousand dollars adding up all my payslip, and when I made the declaration, the information appeared that I needed to pay 6,400 dollars income tax, I thought I would get something because I had so much discount on the tax rate on all my salaries, I'm really confused.

Highlighted

Devotee

Replies 0

Hi @brennda 

 

Are you an Australian Resident for tax purposes??? 

 

It seems as though you may have been taxed at non-resident rates....

 

I did a quick calculation using "non-resident" tax rates, and I worked out that you will have to pay about the same amount that is in your notice of assessment.

 

If you are not a resident of Australia for tax purposes then the notice of assessment you have is correct, and you will have to pay the tax liability, if you have received your notice of assessment.

 

let us know how you go !!!

Highlighted

Most helpful response

Devotee

Replies 1

Did you have a hecs debt that started last financial year? It can be a number of things why you may need to pay but it's best to wait until your tax return is finished processing. Your notice of assessment will show you how they've calculated the outcome. If you see a mistake you can lodge an amendment online to correct it
Highlighted

Newbie

Replies 0

This and my first year working for TFN, I earned 42 thousand dollars and the company I work deducted me a total of 7 thousand dollars adding up all my payslip, and when I made the declaration, the information appeared that I needed to pay 6,400 dollars income tax, I thought I would get something because I had so much discount on the tax rate on all my salaries, I'm really confused..