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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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Why is my tax return so little?

I'm new

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Replies 2

Hi, my total tax for the year, including centrelinks input for Jobseeker payments, is $6,600 +. I was curious as to why my estimated return is $370?
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Most helpful response

Superuser

Replies 0

Hi @BrittanyJayde 

 

Unfortunately we can't see into your account and your tax return through here and we would need more information to give you a proper explanation.

 

When you lodge your tax return, we will work out how much we owe you (a credit or refund) or you owe us (a debit or bill) based on the information on your tax return. We will look at things like your total taxable income as well as how much was withheld from your pay. When we are done, we will issue you a notice of assessment (NOA) that outlines how we have worked it out. For more information about your notice of assessment, check out our website.

 

It is important to keep in mind that the estimate you see when you lodge your return online is only an estimate. The final outcome on your NOA may be different. If you have any questions after we issue your NOA, you can contact us.

 

All the best.

2 REPLIES 2

Former Community Support

Replies 0

Hi @BrittanyJayde

 

The amount of tax you pay depends on:

- whether you are an Australian resident for tax purposes

- how much income you earn

- whether you have more than one job

- whether you have a tax file number (TFN)

 

Jobseeker is a taxable payment, however if the only payment you receive all year is Jobseeker, then the beneficiary tax offset would mean that you would pay no tax for the year.

 

If you had other assessable income besides Jobseeker you may need to pay tax; and if you had tax withheld from that income you may still need to pay tax - or on  the other hand you may receive a refund of some of the tax paid. You may also benefit from other tax offsets such as the Low and middle income earner tax offset.

 

I can't generalise further as I don't know your exact circumstances.  You can discuss the exact figures on your tax return by contacting us.

 

I  hope this helps

 

 

 

Most helpful response

Superuser

Replies 0

Hi @BrittanyJayde 

 

Unfortunately we can't see into your account and your tax return through here and we would need more information to give you a proper explanation.

 

When you lodge your tax return, we will work out how much we owe you (a credit or refund) or you owe us (a debit or bill) based on the information on your tax return. We will look at things like your total taxable income as well as how much was withheld from your pay. When we are done, we will issue you a notice of assessment (NOA) that outlines how we have worked it out. For more information about your notice of assessment, check out our website.

 

It is important to keep in mind that the estimate you see when you lodge your return online is only an estimate. The final outcome on your NOA may be different. If you have any questions after we issue your NOA, you can contact us.

 

All the best.