Yes, you can get an estimate of your tax back or tax due with online tax calculator.
The E-Lodge income tax calculator will calculate how much your tax refund will be this year.
If you’re not expecting a tax refund, the tax return calculator will instead tell you how much tax you owe on your taxable income for 2014-2015 financial year.
After following three simple steps, you’ll instantly see the tax calculator results.
To see your tax refund or tax due total, you’ll only need a few minutes! In fact, you can even use the E-Lodge tax calculator right now!
How to get your tax return estimate with the E-Lodge tax calculator
To see your tax refund or tax due for the 2014-2015 financial year, follow these three steps;
Step 1- Enter your personal info
Step 2- Enter your income information
Step 3- Enter other details of your income
Step 1: Enter basic personal info
Once you’re on the E-Lodge Tax Calculator page, you’ll first need to enter your basic personal info. This includes the following information;
- Gross taxable income
- Deductions from income
- Total tax withheld
Step 2: Enter your income information
After entering your basic personal information, the E-Lodge calculator will take into account any deductions or offsets that may impact your tax refund. You’ll report any of the following that applies to you;
- Reportable fringe benefits
- Employer superannuation contributions
- Tax-free government pensions
- Target foreign income
- Net financial investment loss
- Net rental property loss
- Child support paid
Step 3: Enter other details of your income
Before seeing your tax refund or tax due total, you’ll complete the third step by reporting any of the following information that applies to you;
- Marital Status
- Number of dependent children: Number of dependent students
- Were you and your family (if applicable) covered by a private hospital policy?
- Total out of pocket medical expenses
- HECS/HELP debt
- SFSS debt
Viewing your Tax Calculation Results
After you’ve entered your tax information, you’ll instantly view your tax refund or tax payable amount. The E-Lodge tax calculator not only shares your tax estimate total, it also gives you a quick breakdown of why your estimate is as reported.
You’ll ultimately see something like this;
The E-Lodge calculator will ultimately leave you with an accurate estimate of your tax return.
So what are you waiting for? Use the tax return calculator today.
Photo via Alice Rosen on FlickrTags: australian tax, financial year 2014-2015, tax calculator