This could be due to a number of reasons, including:
- Your employer may not have deducted enough tax. This can happen when you are working more than one job at the same time and wrongly choose to claim the tax-free threshold on both of them. When this happens, both employers calculate your tax liability on the assumption that they are your only source of income. As this is not the case, the result is likely to be a tax bill at the end of the year.
- You may have asked your employer to withhold PAYG tax, but neglected to ask them to withhold additional tax for your HECS-HELP loans. This likely to result in a tax bill at the end of the year.
- Your employer may have withheld sufficient PAYG tax, but you if you received other income that hasn’t been taxed yet it, will be added to your tax liability. This may include dividends, money from the sale of shares, capital gains from the sale of property or passive income from another source.
