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myTax 2018 Tax estimate – important information

How to understand your myTax estimate and why it may differ from your final assessment.

Last updated 30 May 2018

Your tax estimate is based on the information in your tax return. This includes information you've provided and information that's been pre-filled that you consider is correct.

If you haven't completed all your information, myTax will still show you an estimate based on the information currently in your tax return.

To see how your tax estimate was calculated, click on 'More details' below the estimate.

The myTax calculation is an estimate only and the final balance of your assessment may differ from the estimate when:

  • it involves complex calculations (for example income averaging), or
  • we receive information that affects the balance of your assessment.

This includes situations where you:

  • received an employment termination payment
  • received an Australian superannuation lump sum payment
  • had excess concessional superannuation contributions
  • had excess non-concessional superannuation contributions
  • are entitled to use your spouse’s unused seniors and pensioners tax offset
  • have requested the ATO to calculate the deductible amount of your undeducted purchase price of a foreign pension or annuity
  • received credit for tax paid by a trustee
  • have a credit or debit balance with the ATO
  • have a debt with Services Australia or another Australian Government department
  • are lodging the return late
  • are entitled to a Government super contribution
  • are entitled to a low income super tax offset
  • have amounts where rounding rules apply
  • have incorrectly edited or deleted pre-filled information.

If your estimate indicates you owe money to the ATO you can make a payment towards it after you have lodged your tax return. See How to pay for your options.

Why you may receive a tax bill may also assist you in understanding your estimate and help preventing future debt.