ELI5 australian taxation question
In 2022 my income was over reported which resulted me overpaying tax by $1900. can i claim this as a tax loss in my next return and which part do i put it in to claim it? can fill out the bottom part of L1 (screenshot) by putting in $1900 and marking the loss box?
i tried an ammendment in oct and it was in for months, so after a few phone calls i submitted a complaint and then got a call from an auditer saying they need to do a full audit to process, which is ridiculous because the ammendment was just to fix the income to what it should have been. I had an issue with doing an audit as some of my deductions i couldt prove due to moving house and losing records, so i told them to cancel the ammendment.
if i can rather just claim a loss, i can substantiate the claim and the ato can also refer to the income statement they have on file for this employer and can see that it was over reported when compared to the lodgement.
id rather not do an ammendment or objection in future as it may trigger an audit.
If not a tax loss carried forward, is there any way it can be claimed back in next tax return?
Also, this is for an individual tax return, non business.
thanks in advance.
Robbie
Posted Apr 11, 2024, 9:14 AM UTC