logo
A young Aussie worker has made waves after revealing she was slugged more than $30,000 by Australian Taxation Office

A young Aussie worker has made waves after revealing she was slugged more than $30,000 by Australian Taxation Office

Sky News AU6 hours ago
A young Australian worker has caused a commotion after revealing she owes the tax office a hefty $32,000.
Christie, a 21-year-old worker based in Brisbane posted on TikTok that 'apparently I owe, $32,459' to the Australian Taxation Office, adding 'they defs meant to say that's my deduction right?'
The video, which the majority of followers thought was satire, caused an instant buzz, with commentors questioning how a tax bill could fetch so high.
One shocked commentor asked 'how do you owe 32k!!' while another said, 'if this happened to me, I'd rip my boss a new one.'
'If your caption is for real, how do you owe that much' one person queried, adding that the ATO were 'rip offs.'
'Are you doing ABN work? If not you should certainly not be having a tax bill anywhere near than even if you aren't working multiple jobs correctly,' one stunned commentor wrote.
Speaking to News.com.au, Christie, who works in event management and promotional marketing said it was a 'lose-lose' situation and that she was no stranger to exorbitant tax bills.
'I make a decent amount of money so wasn't too shocked to see the bill. I usually have a tax bill, but it hasn't been this large,' Christie said.
Christie stated in the comment section that she 'works a lot' yet insisted she had never received an invoice this high from the ATO, and that the extraordinary fee caught her by complete surprise.
Christie, who works multiple jobs and uses an Australian Business Number, said that she squirrels away enough money in anticipation of being hit with a substantial fee every year.
'I end up making pretty much the same net income as years where I was working less so it feels like a bit of a lose-lose situation,' Christie said.
Despite the new financial year beginning only a few days ago, Christie is not the only Aussie sharing nightmarish tax stories on social media, with users criticising the ATO for lobbing them with massive bills.
One user on a separate post said, 'I work casually and still owe 2k' while another moaned 'I owe $3,300.'
The string of disgruntled comments continued with one stating 'I had a three grand bill last year. I'm too scared to do this year's.'
Another user despaired that they 'work casually and still owe 2k. Like no I barely get $350 a week – make it make sense.'
However, experts stress there are numerous reasons a taxpayer may unexpectedly receive a rude awakening.
These can include your employer neglecting to make HECS-HELP contributions leaving workers with a mammoth bill come tax time, or sole traders not making repayments through the pay as you go system.
Other factors can include the Medicare levy surcharge, failing to include your partners income and not accounting for capital gains made throughout the year.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ASX falls as investors await key Trump, RBA decisions
ASX falls as investors await key Trump, RBA decisions

West Australian

time39 minutes ago

  • West Australian

ASX falls as investors await key Trump, RBA decisions

Cautious investors dragged the Australian sharemarket and dollar lower as they await the fallout from US President Donald Trump's tariff policy and whether or not the Reserve Bank will go through with its widely expected rate cut. The benchmark ASX 200 index slid 13.70 points or 0.16 per cent to finish Monday's trading at 8,589.30. The broader All Ordinaries also finished in the red down 15.50 points or 0.18 per cent to 8,826.40. The Australian dollar slumped 0.58 per cent and is now buying 65.10 US cents. It was a mixed day for markets with six of the 11 sectors finishing in the red, as the local bourse seesawed throughout the day's trading. Utilities were the standout, led by Origin Energy which jumped 6.75 per cent to $11.55 while APA Group was up 0.36 per cent to $8.39 and Meridian Energy finished in the green up 2.22 per cent to $5.53. It was also a strong day for the healthcare sector with CSL jumping 2.15 per cent to $247.98 while Sigma Healthcare rose 0.33 per cent to $3.02 and Pro Medicus closed 0.68 per cent higher to $309.98. CBA shares slipped 0.11 per cent to $177.81, NAB dropped 0.28 per cent to $39.04, Westpac slumped 0.45 per cent to $33.48 while ANZ finished in the red down 0.63 per cent to $30.13. Traders were cautious after US treasury secretary Scott Bessent informed the market the White House sent letters to its trading partners. But there were some mixed messages. Some White House staff said 12 letters were sent while others said 15, with nobody confirming who will receive a letter and what the new tariff rates will be. However, the White House said the revised levies would come into effect from August 1. IG market analyst Tony Sycamore said traders were taking profits waiting for the fallout from a busy macroeconomic week. 'Starting with the RBA, it would be a shock if they went against what the market is pricing in at this time and there would probably be an uproar if they didn't cut rates,' he told NewsWire. Mr Sycamore said tariff rates would likely rise from an average of 14 to around 19 per cent on the back of these letters sent to 12 to 15 countries. 'Mr Trump did mention 70 per cent for some countries, but we don't know until that letter arrives and we see the headlines so again it makes sense to see a little bit of profit taking,' he said. In company news, Origin Energy jumped 6.75 per cent to $11.55 after reports the company was mulling over a demerger. Origin Energy, which owns a minority stake in UK business Octopus Energy, is reportedly seeking a demerger of its technology arm. On the other side, Northern Star Resources slumped 8.7 per cent after reporting gold sales for the 2025 financial year came in at the lower end of its revised guidance. It also set a weaker than forecasted guidance for 2026.

ASX slips as cautious investors take profits
ASX slips as cautious investors take profits

Perth Now

time41 minutes ago

  • Perth Now

ASX slips as cautious investors take profits

Cautious investors dragged the Australian sharemarket and dollar lower as they await the fallout from US President Donald Trump's tariff policy and whether or not the Reserve Bank will go through with its widely expected rate cut. The benchmark ASX 200 index slid 13.70 points or 0.16 per cent to finish Monday's trading at 8,589.30. The broader All Ordinaries also finished in the red down 15.50 points or 0.18 per cent to 8,826.40. The Australian dollar slumped 0.58 per cent and is now buying 65.10 US cents. It was a mixed day for markets with six of the 11 sectors finishing in the red, as the local bourse seesawed throughout the day's trading. The Australian sharemarket slipped as investors await key economic news. Picture NewsWire/ Gaye Gerard. Credit: News Corp Australia Utilities were the standout, led by Origin Energy which jumped 6.75 per cent to $11.55 while APA Group was up 0.36 per cent to $8.39 and Meridian Energy finished in the green up 2.22 per cent to $5.53. It was also a strong day for the healthcare sector with CSL jumping 2.15 per cent to $247.98 while Sigma Healthcare rose 0.33 per cent to $3.02 and Pro Medicus closed 0.68 per cent higher to $309.98. CBA shares slipped 0.11 per cent to $177.81, NAB dropped 0.28 per cent to $39.04, Westpac slumped 0.45 per cent to $33.48 while ANZ finished in the red down 0.63 per cent to $30.13. Traders were cautious after US treasury secretary Scott Bessent informed the market the White House sent letters to its trading partners. But there were some mixed messages. Some White House staff said 12 letters were sent while others said 15, with nobody confirming who will receive a letter and what the new tariff rates will be. Utilities was the standout sector. NewsWire / Jeremy Piper Credit: News Corp Australia However, the White House said the revised levies would come into effect from August 1. IG market analyst Tony Sycamore said traders were taking profits waiting for the fallout from a busy macroeconomic week. 'Starting with the RBA, it would be a shock if they went against what the market is pricing in at this time and there would probably be an uproar if they didn't cut rates,' he told NewsWire. Mr Sycamore said tariff rates would likely rise from an average of 14 to around 19 per cent on the back of these letters sent to 12 to 15 countries. 'Mr Trump did mention 70 per cent for some countries, but we don't know until that letter arrives and we see the headlines so again it makes sense to see a little bit of profit taking,' he said. In company news, Origin Energy jumped 6.75 per cent to $11.55 after reports the company was mulling over a demerger. Origin Energy, which owns a minority stake in UK business Octopus Energy, is reportedly seeking a demerger of its technology arm. On the other side, Northern Star Resources slumped 8.7 per cent after reporting gold sales for the 2025 financial year came in at the lower end of its revised guidance. It also set a weaker than forecasted guidance for 2026.

Credit downgrade hits coal miner's plan to raise $1b
Credit downgrade hits coal miner's plan to raise $1b

AU Financial Review

time2 hours ago

  • AU Financial Review

Credit downgrade hits coal miner's plan to raise $1b

Coronado Global Resources will struggle to raise the nearly $1 billion it needs after it was downgraded by one of the world's largest credit agencies, becoming the latest Australian coal miner to be hit by the deepening price slump for the fossil fuel that has already tipped one miner into administration and forced another into a trading halt. Global credit ratings agency S&P downgraded Coronado, which operates coal mines in Queensland's Bowen Basin and Virginia in the US, making the miner's bid to raise nearly $1 billion in funding over the next two years even harder by narrowing its access to affordable debt.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store