Saturday, November 2, 2024

Little-known reason money may be taken from your tax refund

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Taxpayers are being reminded the Australian Taxation Office (ATO) will siphon money from their tax returns to pay off any outstanding Services Australia debts.

Even those people who have existing repayment arrangements with Services Australia could discover a chunk of their tax return missing.

“If you have an outstanding debt with us, we may take money from your tax refund to repay it,” Services Australia tweeted on Monday.

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The government agency urged taxpayers to become familiar with their debts and how they will be recovered at tax time, to help reduce the negative impacts of the measure.

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