I don't understand my notice of assessment. Can someone explain it to me?

Click here for more information on your tax return notice of assessement.

You will also find tips, calculators and checklists to help you prepare your eTax Return (and get a better refund) right here - summary of e-tax and Assessable income and checklist of E-tax and Allowable Deductions.

After the ATO has processed your tax return, you are issued with a "Notice of Assessment". This will tell you if you are entitled to a refund, or if you have a tax debt to pay, and, how it is calculated.

To understand the items on your notice of assessment refer to the information in Reading your notice of assessment on the revese side of your notice. To understand how your refund or tax liability is calculated, follow these steps:
  • work out if your taxable income is correct (the assessable income you earned minus deductions)
  •  add up the amount of tax payable on that amount of income (tax on taxable income, plus Medicare levy and Higher Education Loan Programme/Student Financial Supplement Scheme repayments)
  • minus any offsets from your tax payable, then tax already paid (amounts withheld by your employer and paid on income activity statements)
  • if there is an amount left over, this is refunded to you, and
  • if there is an amount outstanding, this is your tax debt amount payable.
For help with your eTax return see our eTax Return Checklist.

Web Based Tax Return App:

A benefit of using eZtax, our web based tax return app, is we have the genuine online tools, knowledge and experience to get the best tax refund for our clients, making it easy to complete your annual tax return online.

Our Web Based Tax Return App will step you through all the necessary questions to increase your 2014 tax refund estimate and take into account all relevant tax deductions and tax offsets. Try it now. Its FREE to get started!

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