Hello guys, This is my first time claiming tax here in Aus. My employer gave me form That says PayG payment summary- individual non-bussiness. It has my gross payment and TAX withheld. I checked in ATO website and there are no statements of my payment or anything. How do i file this one? I dont want to get it done outside because im just getting less than $500 and don't want to pay $90 for someone to do it.
Thanks
But anybody would happily wait 14 minutes for your hand crafted, artisanal response!
I've linked them but that's not the problem. I don't know where to enter these details. It's confusing.
Username doesn't check out.
That's Evil.
Well, if it's confusing, maybe you better pay $90 and get someone to donut for you.
get someone to donut for you
Don't think that's gonna help OP's tax problem.
Log onto mygov. Log into ATO website. Fill out tax return. Get money back or pay ATO money.
How would you even assume you are getting $500 back if you haven't done your return?
because I earned less than 5k from Jan to July.
What about from June-july? ;)
You've been issued with a group certificate, so on my.gov, click ATO and lodge away
You should’ve ticked the other box.
ATO offers free Tax Help Program if you meet the eligibility.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/T…
Thanks, I'll look into it, I was gonna call them on Monday anyway.
The online chat is really good.
Withheld only $500 of $5000 income (10%) ?
If you didn't give your employer a tax file number (TFN) withholding tax is about 50%. If you did give employer your TFN, then he should have deducted about 30% and sent it to the ATO. So you need to lodge a tax return via mygov (free) or go to a tax agent (between $50-$100) to get your $500 refunded to you.
When you begin to fill in your tax return, it will be pre-filled with your employers details and tax withheld. Now if it isn't there as you say in your OP then you just manually add the employer and ABN details, and put in the figures from your income statement. The ATO will then look to the employer for your tax he hasn't paid on your behalf. Meantime you'll get a refund regardless.
Thank you. Looks like i have to fill the information. My Employer only gave me a paper with my gross income and the amount of tax deducted with a company name and its ABN details.
Why the hell would he be paying 30% tax on $10k a year? Should be paying 0% tax as it's well under the tax free threshold.
Maybe OP forgot to tick the box when he started employment to use this employer for the tax free threshold.
Why am I getting negged on this? Since when do people on $10k a year pay tax?
When they earn $2000 in a week and then $8000 over the course of the remaining 51 weeks. They’d need to submit a tax return in order to get the tax on the $2000 payment back
@kerfuffle: This is fairly unlikely though isnt it. To say that op should automatically be being taxed 30% for some reason is incorrect.
@brendanm: PAYG tax has always been calculated based on the paycheck amount, not expected yearly total.
@brendanm: Very likely if they happen to be a retail worker. Your $2000 (or whatever amount; I got paid fortnightly) would be during Christmas to the point where you end up paying HECS too.
@kerfuffle: Did op work over Christmas during January? $2000 fortnightly is only $1000 weekly, so you would be taxed at the equivalent of $52k a year, which is not 30% tax.
@brendanm: It was a figure and situation I pulled out of thin air. I'm not an accountant. OP could have gotten paid heaps in a week which is why he got taxed. Or like Quantamcat said, didn't tick the tax-free threshold box
Going by your attitude in this thread, I can see why you got negged; you come across as hostile and aggressive …
@kerfuffle: Did you read the initial post I replied to? That poster said he should have 30% withheld, with no rhyme or reason. Hostile? Actually having some understanding of our taxation system isn't being hostile.
$2000 fortnightly is only $1000 weekly, so you would be taxed at the equivalent of $52k a year, which is not 30% tax.
If you put $1000 into the ATO's PAYG tax witholding calculator it spits out $303.61. 30% is basically bang on.
@ssquid: What messed up calculator did you use? It comes out as $183 tax per week on $1000. Which is not 30%.
Just under $3k a week is where you are paying approx 30% tax.
@brendanm: I used the regular calculator; no tax-free threshold, TFN provided, no Medicare exemption, no HECS - all the default options that someone unfamiliar with the tax system would get applied.
Low income earners can get free help completing their tax return. More information is available at this link
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/T…
Tax gets deducted on each salary payment, extrapolated to a year.
So if you get a months pay for a large sum, they multiply by 12 and calculate on that annualised figure what tax rate to apply.
SO its quite feasible to have a varying amount of tax taken out, dependent on payment cycles and each payment amount.
Also if you only work 6 months of the year you are bound to have had your employer paid more tax on your behalf to the ATO than you actually owe for the full year.
It would have been a lot quicker to google your question.
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/