What is tax return and how it works?

HOW DOES TAX RETURN WORKS?

• I started working and I am paying tax and after two weeks I got letter and the heading is "PAYG Payment summary " and in a box " TOTAL TAX WITHHELD " there is a amount so if I claim now so can I claim again? Thanks guys

• Answer:

  I'm a little confused by your question but I think you started working part way through June. You have now received your payment summary that lists the full income you have earned from this employer for this financial year, and also the amount of tax that has been deducted. Your next step is to lodge a tax return. In Australia the financial year runs from 1 July to 30 June, and if you are completing your tax return yourself you need to lodge your return by 31 October each year. The easiest way to lodge your tax return is to download etax from the tax office website at www.ato.gov.au. This allows you to lodge your tax return electronically and get a quick refund usually in 14 days. Once you have lodged your tax return for this year, the income you have earned from all sources including other jobs and Centrelink is added up and your tax amount is calculated. If you paid too much tax for the year, the excess is refunded to you. If you didn't pay enough, you get a tax bill. I'm not sure what you mean by 'if I claim now can I claim again". You only lodge one tax return per year so there is only one claim.