How to get a Tax Refund | Ezy Tax Back
Getting your Australian Tax Back is easier than you may think!
If you are 18 years or older and you live and/or work in Australia you will most likely need to lodge an Australian Tax Return each financial year. Lodging your Australian Tax Return allows you to receive any tax back that you may be entitled to.
Tax is taken out of your regular wages by your employer and then sent to the Australian Taxation Office (ATO). The amount of tax taken out of your wages depends on the level of income you earn. When the financial year comes to a close (30th June every year) your employer will issue you with a PAYG Payment Summary (PAYG – Pay As You Go). This payment summary outlines the total gross payments paid to you by your employer, as well as the amount of tax they have withheld from your wages and forwarded to the ATO on your behalf. This piece of paper is vital when claiming your tax back in Australia.
How can I get my tax back?
After you receive your PAYG Summary from your employer you can complete your tax return online with ezytaxback.com within 10 minutes and it will only cost you a fixed fee of $29.95. We don’t charge you any extra for more complex returns and we do not take a percentage of your refund. We give you exactly the refund you’re entitled to.
Sign in, or create a new user on our site and follow the prompts and get your Australian tax refund completed in minutes. Once received by the ezytaxback.com team your return is reviewed by qualified CPA Accountants to ensure you get every cent you deserve before being lodged with the ATO. You can expect your tax back in your bank account within 14 days of completing your return with ezytaxback.com. It’s that easy.
How much tax back can I get?
The level of your refund will vary depending on your individual circumstances. In general there are three main factors which affect the amount of tax back you may be entitled to:
1.) Your residency status – Your residency status affects the rate of tax you pay as well as the types of income that will be assessed in your tax return.
2.) The amount of gross income you receive – this figure will ultimately determine the rate of tax that will be required to pay
3.) The amount of tax already paid – if you have paid more than you need already you will be entitled to an Australian tax refund
There are also many other factors to be taken into account such as HECS, Capital Gains and Investments which can increase or decrease your return depending on your individual circumstances.
All Australian Residents are entitled to the tax free threshold. The tax free threshold is currently $18,200. This means if your total taxable income comes to $18,200 or less, you will receive all your tax back. Once your taxable income exceeds this amount tax will incur on your income.
What if I am not entitled to receive my tax back?
In some circumstances you will not be entitled to receive any tax back and you may need to pay tax. This will occur if you have income exceeding $18,200 that you have not paid tax on or if you haven’t had enough tax withheld from your wages during the course of your employment.
At ezytaxback.com if you’re not entitled to tax back, we will ensure we have reduced your tax payable as much as possible and we will notify you of your tax payable before lodgment with the ATO.