The start of a new financial year means tax time is once again upon us.
For many Australians, it means getting some extra money to spend on a trip, put into their savings, or pay off bills.
But several people have already taken to social media to report that, rather than getting a refund this year, they’ve been hit with a surprise tax debt.
“My toxic trait is thinking I was going to get money back and be able to go on a holiday,” one person wrote on TikTok, sharing a screenshot showing they owed the Australian Taxation Office (ATO) $4,326.85.
While a few social media users were expected to receive refunds in the thousands, many others said they were bracing to get very little — if anything — back.
Why might you get a tax bill?
People are…
