- 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
Ever questioned why you didn’t get a bigger tax refund?
Top reasons why your refund may not be as high this year (or going forward!):