Australians completing their tax return at the end of the 2022-23 financial year have been hit with a rough surprise, learning they owe the ATO money due to a major career decision.
Finder money expert Alison Banney told The Daily Telegraph those who choose to salary sacrifice – an arrangement which means you pay less tax on your income – leads to a larger tax bill.
“This means you’ll be hit with a tax bill, which may be an unwelcome surprise if you haven’t planned for it.” Prime Minister, Anthony Albanese wa coy on whether he would look to reinstate the tax offset for low and middle income earners. Picture: NCA NewsWire / Martin Ollman
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No, you're not imagining it. Your tax return may not be a return at all this yearPeople are posting their disappointing tax returns - and tax bills - on Tiktok. Here's why your tax return may be lower this year. Via TheFeedSBS
Read more »
Stark warning for Aussies heading to Europe for summerAustralians looking forward to a summer holiday in Europe could be up for a pared-back vacation, as swelteringly high temperatures force the closure of many popular tourist sites across the continent.
Read more »
Horrific warning for Aussies amid RBA reshuffleAustralians are staring down severe interest rate pain, according to one top economist, as the Treasurer remains tight lipped on whether major changes at the RBA will affect upcoming cash rate decisions.
Read more »
Aussies retain the Ashes after England ‘thought they had it’Australia’s gap at the top of women’s cricket has narrowed but their trophy cabinet will remain full, after holding on to retain the Ashes with a three-run ODI win over England. 7NEWS
Read more »
Family of Aussies lost at sea slam ‘ridiculous’ ship probeThe families of two Australians who went missing in a deep-sea tragedy almost three years ago have pleaded with the federal government to back them in their quest for answers. 7NEWS
Read more »
'A nation without friends': Why aren't Australians socialising like they used to?Australians have a reputation for being a sociable bunch, but we're spending more time alone than ever before. Experts say social media, living alone and a fashion for being busy is driving the trend.
Read more »