Tax Return Calculator

Our Australian online tax refund calculator is a free tool.  It provides you with an instant estimate of your tax refund! No sign-up required, fill out the information and get an estimated result in no time. We will also send you an email summary for your records.

Tax Calculator

Income

Deductions

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Calculations

How to use our tax return calculator?

This tool is made to help you out, it also gives you a quick and simple snapshot of your potential return. Start by entering all the basic information such as income, tax withheld, government payments, existing HECS debts, dividends and franking credits.  Follow the steps and our online tax return calculator will estimate your potential tax refund.  It’s fast, easy and secure.

How to use our tax return calculator?

To obtain the most accurate estimate, try to use correct figures. So, the more detailed and accurate your information is, the better. Our calculator takes into account the most common elements involved in a refund calculation.

Conversely, it does not take consider your individual offsets and other circumstances which could impact your refund. Such as tax credits or your occupation.

What is next?

To get your final tax return summary, complete a full return process by signing up on –  ezytaxback.com.  And let our team help you out.

Glossary

What is income?

Employment Income

In this section you should include all the income you have received from your employer throughout the 2019 financial year. Your group certificate should have all your total employment income. Employers should send you a group certificate by by email or by letter. Otherwise, if your employer has set up STP Single Touch Payroll, you can access your PAYG summary online via the MyGov website which will have your total gross taxable income as well as tax withheld for the year-end. 

Government pensions/allowances

If you received any income from the Australian Government such as Youth Allowance or Parental Leave Pay you should enter this amount for a more accurate result as both payments are not exempt from income tax and therefore should be included apart of your taxable income.

On the other hand, if you received Carer Adjustment payments or Veterans’ Affairs disability pension, these payments are exempt taxable income payments and you should not enter this into the tax calculator when calculating your refund amount. You can find out whether your government payments are taxable or not via your MyGov account which will have your annual statements ready for you to access & will include any tax withheld during the year also which you should enter in the opposing field on the tax calculator page.

To note: Opposed to our online tax calculator page, when you are filling out our online tax form to provide all income you received during the year, even tax-exempt income as per above as we can sort through what is and what isn’t taxable, us humans are one-up on the calculator in this instance!

Dividend income and franking credits

This is pretty straight-forward and includes income such as dividends, interest earned, franking credits and the like.  You can obtain your total annual income earned by logging on to your online account if your provider has this service and if you’ve opted for paperless banking, go you!, or else you should receive a letter in the mail in the coming week or so with your annual statement, otherwise if you can’t wait you can contact your chosen financial institution directly.

All other income

This section is where you should include income from sources such as foreign income, net sole trader income and net rental property income after expenses paid.

What are deductions?

Deductions

In the deductions section you should include costs incurred which were specifically work-related which include:

  1. motor vehicle expenses
  2. travel expenses
  3. uniform occupation-specific or protective clothing, laundry and dry-cleaning expenses
  4. self-education expenses
  5. other work-related expenses
  6. low-value pool deduction
  7. interest deduction
  8. dividend deductions
  9. gifts and donations
  10. costs of managing tax affairs

As well as other deductions including personal super contributions and income protection insurance premiums. You should also include any current HELP/HECS/SFSS Loan balance as Australian Taxpayers are obligated to make compulsory repayments once taxable income is over $51,957 as per the new 2019 tax threshold rates. Following the information outlined above prior to using our online tax calculator will provide you with the best results at receiving an accurate estimated tax return figure.

Need more help?

We are an online service with a personal touch. Our team of certified accountants are there to help you every step of the way. We are confident that we will be able to guide you through any questions you may have.

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