this post was submitted on 09 Jul 2023
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Why do I owe money to the ATO? (aussie.zone)
submitted 1 year ago by ReverseThePolarity@aussie.zone to c/ausfinance@aussie.zone
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I just completed my tax on my gov and the estimate says I owe nearly a thousand dollars. I'm not earning any more than last year and I got about 800 back last year. Anyone else having this issue?

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[โ€“] RockyGeo@lemmy.ml -1 points 1 year ago (1 children)

If you have a HECS debt, it may be due to the fresh increase to indexation

[โ€“] Zagorath@aussie.zone 5 points 1 year ago

Indexation doesn't affect how much HECS you owe per year though, only the lifetime total balance.