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  1. #1
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    Default Question re Tax return

    Hubby and I are doing out tax returns and for some reason his estimate is less than expected. I know it’s only an estimate but am wondering if any accountants out there might be able to provide some insight on how they calculate it?

    We haven’t claimed any deductions at all so I’m wondering why the Tax on taxable income would be different to the total of PAYG withholding tax?
    Here is a pic of the estimate. If he wasn’t eligible for the tax offset it means he would have ended up with a bill as far as I can tell? Which hasn’t happened before so just trying to work out why this is.
    Any help on figuring this out would be appreciated!
    Please don’t quote as I will delete later.

    IMG_2585.jpg

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    Default Question re Tax return

    Does your DH earn the same each pay cycle? If not, it can mean that you sometimes end up having paid too much or not enough tax when it’s all tallied up for the year.

    And maybe other years he was eligible for a discount on the Medicare levy but is not longer entitled? Has his income gone up?
    Last edited by babyno1onboard; 21-07-2019 at 12:51.

  3. #3
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    Default Question re Tax return

    @babyno1onboard He sometimes earns a monthly bonus. This has happened 4 times in the last financial year. So maybe that’s it? I’ll get him to talk to his payroll to make sure he’s paying enough. I’d rather they take more and get it back at tax time than have a bill.

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    CA here who works in tax. it just looks like perhaps they’ve not withheld enough tax. i assume the 53,696 is his gross salary as per the payg summary?

    he’s getting a refund so i wouldn’t worry too much about it? has he got any deductions he can claim?

  5. #5
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    Quote Originally Posted by turquoisecoast View Post
    CA here who works in tax. it just looks like perhaps they’ve not withheld enough tax. i assume the 53,696 is his gross salary as per the payg summary?

    he’s getting a refund so i wouldn’t worry too much about it? has he got any deductions he can claim?
    Yep the $53696 is his gross salary. Unfortunately no deductions, he has nothing he can claim as far as we are aware.

    Happy we are getting a refund so all good, was just confused as to why he wouldn’t be getting the full offset amount.

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    Quote Originally Posted by Furmumma View Post
    Yep the $53696 is his gross salary. Unfortunately no deductions, he has nothing he can claim as far as we are aware.

    Happy we are getting a refund so all good, was just confused as to why he wouldn’t be getting the full offset amount.
    what does he do for a job? there must be something he could claim?

    if he gets a monthly bonus then it’s possible his employer hasn’t withheld enough tax that pay period and over the year, it’s resulted in too little tax having been withheld.

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    Furmumma (21-07-2019)

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    I pm'd you

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    Furmumma (21-07-2019)

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    His employer hasn't withheld enough tax. He can ask for them to withhold a bit more this financial year to avoid a debt.

    Does he wear specific uniforms? Either with logos or safety clothing. If so, you can claim laundry. Steelcap boots? Works outside and wears sunglasses?

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    Furmumma (21-07-2019)

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    @turquoisecoast he works in customer service for a finance company. No uniforms or anything, no work related car expenses etc.

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    could he claim a bit of personal telephone costs? home internet? home office? any stationery or little bits and bobs he might use at work? it’s hard when you’re a salaried employee working in service industries as there’s not usually much to claim. besides my professional membership fees, i struggle with deductions too.


 

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