I'm just wondering why I owe the ATO. I don't really know much about how it works, so I'm curious. This is the 2nd tax return I've had to lodge.
I made ~75k (gross income) in the last tax period. I pay about ~$400/month in HECS debt and ~$1600/month in tax. When going through etax, it says I owe ~$600?
Could someone explain to me why that is? Any advice would be appreciated!
Thanks!
Go to an accountant.