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Why do I suddenly owe tax this year? It could be because the Low and Middle Income Tax offset is gone, forever

  • Written by Ann Kayis-Kumar, Associate Professor, UNSW Sydney
Why do I suddenly owe tax this year? It could be because the Low and Middle Income Tax offset is gone, foreverATO

Why do I suddenly owe tax this year?

This is one of the most Googled questions in Australia right now. And rightly so.

Ever since Australia’s transition to self-assessment for income tax returns, we have been primed to expect an annual refund.

That’s by design. Thinking we will get a refund acts as an incentive to get us to fill in...

Read more: Why do I suddenly owe tax this year? It could be because the Low and Middle Income Tax offset is...

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