Top reasons why your refund may not be as high this year (or going forward!):

• You didn’t work this year so no tax was actually paid on your behalf
• New employer actually withheld the right amount of tax as opposed to your former one which just withheld willy nilly OR vice versa.
• You changed employers throughout the financial year and got paid out a significant amount of leave etc which was not taxed properly, leaving you a lump sum liability in your tax return
• You now have a HELP (formerly HECS) bill you need to contribute to because you’re earning above $47,196 (in 2011/12 financial year)
• You made a trading loss from your side activities or business and it isn’t eligible to be offset against other income
• Your expenses have dramatically decreased ie you no longer have a mountain of eligible tax claims to offset your income

These are just some but not all reasons contributing to not getting as a big of a refund

Do you know of others? Feel free to share below