Estimate your tax refund, or what you'll owe, before you lodge. Use the figures from your income statement in myGov.
One job paid fortnightly with the usual tax withheld, no other income. The last column adds $2,500 of work-related expenses with receipts.
| Wages | Tax withheld | Refund (standard deduction) | Refund with $2,500 of expenses |
|---|---|---|---|
| $40,000 | $4,004 | $729 | $1,059 |
| $60,000 | $9,724 | $439 | $942 |
| $80,000 | $16,172 | $372 | $852 |
| $100,000 | $22,568 | $368 | $848 |
| $130,000 | $32,188 | $388 | $868 |
| $180,000 | $51,324 | $444 | $1,029 |
Employers withhold tax as if you earn the same every pay for the whole year and claim nothing. You usually get money back if you:
You're more likely to owe if you had two jobs and claimed the tax-free threshold from both, had untaxed income like interest or rent, or have a study loan you didn't tell your employer about.
It depends on how much tax was withheld from your pay compared with the tax you owe for the year. Enter your wages and the tax withheld from your income statement to estimate it.
The ATO says most refunds are paid within 2 weeks when you lodge online with myTax. It's best to wait until your income statement is marked 'tax ready', usually by the end of July.
31 October for people lodging their own return. If you use a registered tax agent and are on their list by then, you usually have longer.
Not both in full. Actual work-related expenses reduce the standard deduction dollar for dollar, so you effectively claim the larger of your expenses or $1,000 (up to your wages). Union fees, tax agent fees and donations are claimed on top.
Common reasons are claiming the tax-free threshold with two employers, income that had no tax withheld, a study loan your employer didn't know about, or the Medicare levy surcharge if you had no hospital cover.
Sources: ATO tax rates, offsets, Medicare levy and standard deduction; ATO, Lodge your tax return online. General information, not tax advice.