TWO SIDES BLOG

Why your tax refund can vary from year to year (2 min read)

There are many reasons that your tax refund may vary from one year to the next, sometimes you may not get a refund and might have to pay tax! Not everyone gets a refund. If you are employed and get paid a salary or wage your employer deducts an amount of tax from each pay ranging from 10% - 47% depending on how much you earn per the table below. Assuming your employer deducts the correct tax (use the ATO calculator here to check) you will not be entitled to a tax refund unless you have certain expenses otherwise known as deductions that relate to your employment that you can claim. If your tax rate is 30% for example, for every $1 of tax deduction you should get 30c of tax back when you lodg

RSS Feed
Recent Posts
Archive
Search By Tags
Follow Us
  • Facebook Social Icon
  • Instagram Social Icon
  • Twitter Social Icon
  • LinkedIn Social Icon

Copyright 2017 - Two Sides

ABN  14 715 925 101

Xero-Gold-Champion-Partner-Logos.png
  • Facebook
  • Instagram
  • Twitter
  • LinkedIn
  • YouTube - Black Circle

Liability limited by a scheme approved under Professional Standards Legislation.