this post was submitted on 09 Jul 2023
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Why do I owe money to the ATO? (aussie.zone)
submitted 1 year ago by ReverseThePolarity@aussie.zone to c/ausfinance@aussie.zone
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I just completed my tax on my gov and the estimate says I owe nearly a thousand dollars. I'm not earning any more than last year and I got about 800 back last year. Anyone else having this issue?

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[–] Phantom@aussie.zone 1 points 1 year ago

Just to note, you can set up a repayment plan fairly easily. Just call up the ATO and state how much your comfortable with paying back, divide it up to end roughly same time next year. Minimises the bill shock.

[–] RockyGeo@lemmy.ml 0 points 1 year ago (1 children)

If you have a HECS debt, it may be due to the fresh increase to indexation

[–] Zagorath@aussie.zone 1 points 1 year ago

Indexation doesn't affect how much HECS you owe per year though, only the lifetime total balance.