Finance Questions? Ask a Financial Expert for Answers ASAP
Dear Friend,Hello and welcome. Thank you for providing an opportunity to assist you.
Kindly remain online as I prepare a reply for you.
To begin with as you are aware, the Tax rate applicable to you would be as under:For taxable income, $80,001 – $180,000 Tax payable would be $17,547 plus 37c for each $1 over $80,000
This precisely calculates to $19,376 and you have paid your tax accurately.
I do not see any reason, especially when you do not receive any other income or interest income.
The only possibility is that -- do you have any past / previous year's penalty / interest due ?
Are you there ?
I certainly feel that the Notice of Assessment that you have received is incorrect. I advice you to first get in touch with them by phone on 13 28 61 for help. Keep your notice of assessment and copy of your tax return in hand. If this does not resolve your problem, the other remedy to this would be to file for dispute.You have options to seek a review through phone, through the complaint team and other options. Kindly refer:http://www.ato.gov.au/General/Correct-a-mistake-or-dispute-a-decision/Contact-us-with-your-concerns/?anchor=P95_6789#P95_6789
I hope this helps. You may please leave a positive rating if it helps as that is the only way we get compensated for assisting you. Alternatively please feel free to revert back with a reply if you need further assistance.Warm Regards
thank you for your reply. i have not yet submitted my tax return because i felt that it was not correct. i used the etax to see what my return would be, but was surprised that it was me that had to pay! i will call the tax department as you suggested. thank you.
Sorry, can I please ask, could Medicare have anything to do with why I owe ATO? I am calling ATO today, but just thought I would check, as I notice I have an item automatically rolled into my etax of $1274 for Medicare. Thanks Joslyn