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Your tax assessment:

Your Notice of Assessment (NOA)will show if you will receive a refund or have a tax bill. If you have a tax bill to pay, your NOA will include your payment advice and due date.

Reasons you receive a tax bill:

You may receive a tax bill (amount you need to pay) for any of the following reasons:

• A tax offset is no longer available or you are no longer eligible for a tax-offset for example the low to middle income tax offset ended 30 June 2022.
• Not enough tax was withheld from your income throughout the year to meet your tax obligations. For example – You moved into the higher tax bracket through promotion or you have multiple jobs or extra source of income or you may be the recipient of Australian Government  allowances and payments
• Your income increased to a higher repayment rate on your study or training support loan
• You didn’t advise your employer you have a study loan so they didn’t withhold an amount to cover your repayment liability.
• You have income as a sole trader and haven’t paid enough in instalments through the income year.
• You received additional income through the sale of real estate, crypto assets or shares, this is a capitol gains tax event.
• You receive income from investments or assets. For example dividends on shares or rental income.
• Changes to your income (or family status) affect your single or family income threshold and you may need to pay the Medicare Levey or Medicare levy surcharge (MLS)
• The amount of private health insurance rebate you receive changes or is too much.
• You have exceeded the concessional contributions cap with your super fund.
• The ATO finds a difference between the details in your tax return and the information received through pre-fill data or data matching program.

The ATO